Tumbling of NASDAQ stock market on 26th August

The NASDAQ stock market continued to tumble on Tuesday, 26 August 2008. The NASDAQ closed on 2361.97 with an overall decrease of -0.15%. This was a bit lower as compared to Monday’s, 25 August 2008 decrease of -49.12. The oil prices are up by 1.3% to $116.20 per barrel as against 0.5% on Monday. Consumer discretionary sector (-0.4%) was the major laggard of the session reporting a very moderate loss. Fannie Mae (FNM 6.10, +0.91) and Freddie Mac (FRE 4.08, +0.79) were the best performers of the session. The energy sector (+1.8%) was the biggest gainer on NASDAQ stock exchange. The technology sector was the worst performing sector with a loss of 0.4%. Some of the major NASDAQ stocks such as oil and gas storage and transport, home furnishing retail, storage and transport, multi-line insurance, construction and engineering, etc were some of the biggest NASDAQ gainers. On the other hand, Internet retail, automobile manufacturing, trucking, systems software, footwear, etc were the NASDAQ losers.