Poor Session for Stocks in NASDAQ Stock Market

The Major NASDAQ stocks of the NASDAQ Stock Market posted a modest loss on Tuesday, 9 September 2008. The NASDAQ closed on 2209.81 with NASDAQ computer showing the overall loss of -2.64%. The NASDAQ stock market plummeted majorly due to the 4% increase in crude oil prices, fall in July pending home sales larger than expected amount and various other reasons. Pending home sales for the month of July fell by 3.2% as against expected decrease of 1.5%. The crude oil prices fell by 4.4% and are trading at $102 per barrel. The financial sector (-0.4%) was the biggest NASDAQ loser with Lehman Brothers (LEH 11.84, -2.31) falling to its lowest level since 1999. While the consumer discretionary (+1.1%) and technology sector (+0.7) was the NASDAQ top gainers. The fall was also seen in the NASDAQ shares of the energy (-2.4%) and materials (-2.3%) sectors respectively.