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Last update - 13:40 30/03/2008
Tel Aviv Stock Exchange slumps; TA-Real Estate 15 Index loses 4.6%
By Nathan Sheva, TheMarker Correspondent
Tags: Tel Aviv Stock Exchange 

The Tel Aviv Stock Exchange continued its downward fall on Sunday, as opening trade saw a decrease of one percent, including a strong blow to the TA-Real Estate 15 Index, which lost 4.6 percent of its value.

The Tel-Tech Index dropped 1.5 percent, while the TA-25 Index and TA-100 Index each dropped two percent. Meanwhile, the dollar rate rose by 0.7 percent against the shekel which was trading at NIS 3.527.

The Israeli losses are a direct result of the decline felt in the U.S. markets, as Wall Street ended last week with falling stock valuations. The NASDAQ dropped 0.9 percent on Friday, but rose by 0.3 percent in the weekly summary while the Dow Jones industrial average fell 1.17 percent.
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Rumors about difficulties faced by the Lehman Brothers' investment bank seem to be a source of the dropping trade rates, as Wall Street investors are still recovering from the collapse of Bear Stearns.

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