Construction Stocks Tank as Trump's Infrastructure Plans Fizzle
- Fluor, Chicago Bridge & Iron lead decline in builder shares
- Hopes for quick infrastructure bill dwindle in Washington
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The predicted boom in construction stocks under President Donald Trump is turning into a bust.
Trump promised to deliver a $1 trillion infrastructure early in his first year but is now talking about trying to get one through Congress by year-end, with concern it may be pushed into 2018. Waning optimism is taking a toll on builders such as Fluor Corp. and Chicago Bridge & Iron Co., which already have been hit by cost overruns on major projects.