Midday Leaders and Laggards: Nasdaq 100

The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, fell 11.07 points to 1,917.52 in midday trading. The broader Nasdaq composite fell 14.44 points to 2,391.65.

Light, sweet crude rose $1.65 to $137.01 per barrel on the New York Mercantile Exchange during midday trading, despite Saudi Arabia saying over the weekend it was willing to boost production again if consumers require more oil.

The U.S. Federal Reserve is set to begin a two-day meeting on Tuesday, and is widely expected to address rising costs across the economy.

Shares of United Airlines parent UAL Corp. led the downward charge on the Nasdaq 100, losing 62 cents, or 8.7 percent, to $6.54. The airline said Friday it will start requiring minimum stays for nearly all domestic coach seats beginning in October.

Shares of Irish airline Ryanair Holdings PLC slipped 67 cents, or 2.3 percent, to $29.80. The profitability of airline operators is closely linked to jet-fuel costs.

Shares of Flextronics International Ltd. shed 31 cents, or 3.1 percent, to $9.85.

On the gaining side, shares of Steel Dynamics Inc. added $1.39, or 3.6 percent, to $40.29.

Construction and engineering company Foster Wheeler Ltd. saw its shares increase $2.25, or 3.1 percent, to $75.15.

Shares of Hansen Natural Corp., which makes the Monster Energy drinks, rose 90 cents, or 2.6 percent, to $35.08.