Second Countinue Tumble Day This week in NASDAQ

The NASDAQ stock market again tumbled on Wednesday, 13 August 2008. The NASDAQ closed on 2428.62 posting an overall decrease of -0.08%. This was mainly due to the advancement in crude oil prices and fall in the retail sales much below the expectations. The crude oil prices spiked to 2.9% to $116.31 per barrel. The energy sector (+2.9) was the best performer of the session. The materials sector also posted a modest gain of 1.0%. The financial sector was one of the biggest loser with reporting a loss of 4.0%. Some of the major NASDAQ shares steel, construction and engineering, oil and gas exploration and producers, fertilizers and agricultural chemicals posted a moderate gain. Meanwhile, some of the other NASDAQ shares such as diversified banks, tires and rubbers, specialty stores, automobile manufacturing, etc were rather weak and were not up to the expectations of the investors.