New York - The index of shares on Wall Street fell for two consecutive days as the crisis in Libya, which make oil prices more transparent level of U.S. $ 100 per barrel.
In trading Wednesday (23/02/2011), the Dow Jones industrial average (DJIA) closed dropped to 107.01 points (0.88%) to the level 12205.78. The broader Standard & Poor's 500 index also fell 8.04 points (0.61%) to a level of 1307.40 and the NASDAQ slumped 33.43 points (1.21%) to a level of 2722.99.
Meanwhile, world crude oil prices for light sweet finally penetrate the level of U.S. $ 100 per barrel, for the first time since October 2008. Oil prices have surged to $ 10 dollars in 2 days.
Oil prices continue to soar because of fears of supply disruptions in Libya, which is now the fourth largest oil producer in North Africa. Conflict in Libya known to the more heated because the government continues to suppress the demonstrators who asked Khadafy down.
Light, sweet crude had surged to 5% through U.S. $ 100 per barrel, before it finally closed up 2.68 dollars to U.S. $ 98.10 per barrel. Brent Oil closed up 4.47 dollars to as low as U.S. $ 111.25.
Stock indices on Wall Street for 2 consecutive days to respond to declining crude oil price hikes due to the crisis in Libya. Shares slump occurred in trading volume are quite thick.
"We already have a solid increase in the stock market for a longer period, and completely without correction. So in the long run, is a good thing for the market to get a little correction," said Wayne Schmidt, chief investment officer of such Investment Gradient quoted by Reuters on Thursday (02/24/2011).
NASDAQ slumped due to slump in technology stocks. Shares of Hewlett-Packard (HP) were recorded slumped 9.6% after cutting its earnings projections in 2011 due to decline in PC demand.
Trading volume was active, i.e., transactions on the New York Stock Exchange reached 10.32 billion shares, above the daily average reaches 7.99 billion.
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