14.37%QQQQ 35.13 12.16%XLF 16.18 7.15%
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NEW YORK - Shares of construction and engineering companies closed lower on Wednesday as the broader market declined into bear market territory on sharply higher oil prices and a Commerce Department report showing May factory orders came in at their weakest level in three months.
In industry news, a KeyBanc Capital Markets analyst said in a client note that some companies in the sector may be pinched due to lower state government spending over the next year.
Here's how some construction and engineering companies fared:
Quanta Services Inc. fell $1.76, or 5.3percent, to $31.34.
Foster Wheeler Ltd. dropped $5.62, or 7.5 percent, to $69.06.
Granite Construction Inc. gave up $1.11, or 3.5 percent, to $31.09.
Chicago Bridge & Iron Co. lost $1.70, or 4.3 percent, to $37.60.
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