Horrible Week For NASDAQ Stock Exchange

The NASDAQ stock market ended a very disappointing week on Friday, 10 October 2008. The NASDAQ closed on 1649.51 with NASDAQ computer figuring out the overall loss of 0.27%. The credit markets remained stagnant, with no immediate signs of when lending and borrowing would return to levels even approaching normalcy. Oil prices are down 6.9% to $80.18. Even gold, typically seen as a safe-haven, has succumbed to selling pressure, down 1.6% to $869.30 per ounce. For the week, the S&P 500 is down 22.2%, its largest weekly percent loss ever. The index has fallen 46% from its October 2007 all-time high. Likewise, for the week, the Dow and NASDAQ declined 18.2% and15.3% respectively. The Dow Jones Wilshire 5000 Composite Index,a free-float weighted index that measures 5,000 U.S. based companies ended at 11,294.13, down 1,052.90 points, at 8.53 percent, for the week. A year ago, the index was at 15,551.90.

Volatile Week in NASDAQ Stock Market

The NASDAQ stock market ended the rather brutal week on Friday, 3 October 2008, with President Bush signing the historic $700 billion bailout plan after weeks of contentious debate. The NASDAQ closed on 1947.39 recording an overall decrease of -1.48%. For the week, the Dow is off 5.8% and the S&P 500 has shed 7.9%. Worse yet, the NASDAQ has dropped 9.1% week-to-date. The Dow fell 157.47, or 1.50 percent, to 10,325.38 after rising more than 310 points. Energy and materials are the biggest NASDAQ losers as well as the worst performing economic sectors this week. Both are down nearly 10.7% this week. The dollar slipped against most other major currencies, while gold prices fell.