Last update - 00:00 02/03/2008
Tel Aviv Stock Exchange slumps amid violence in south
By Tal Levy, TheMarker
Fears over the state of the United States' economy and plummeting markets overseas on Friday caused the Tel Aviv Stock Exchange indexes to drop on Sunday.
The TA-25 index lost 2.7 percent as did the Tel Aviv 100. The Real Estate index fell by 4 percent, and the TelTech by 3 percent. Turnover stood at NIS 650 million on Sunday afternoon.
While it had appeared that the Israeli market was immune to developments in the security sphere, it is now clear that the violence in the south has considerable impact on the market.
Details on the continuation of the economic slow-down with reference to high inflation and unexceptional financial reports sank the U.S. stock market on Friday.
The Nasdaq dropped 2.6 percent Friday, completing a monthly decrease of 5 percent and a plummet of 14.4 percent since the beginning of the year. The Dow Jones index lost 2.5 percent, completing a monthly loss of 2.9 percent.
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