Tel Aviv Exchange loses 6% before the bell, 4.8% after delayed opening…… Ended the day at a 7% loss.

Now why would all that happen ?

What could have possibly caused the spike down ?

Oh…… Right.

Article at ‘Globes’, Israel’s business journal.

The opening on the TASE was delayed after the Tel Aviv 25 fell 6% in pre-market trading.

There was enormous tension on the Tel Aviv Stock Exchange this morning, the first market to open worldwide after S&P announced that it was downgrading the US credit rating from AAA to AA+. The TASE was expected to fall sharply not only because of the downgrading but also because of losses on global markets on Friday, when the Israeli market was closed.

Opening of trading was delayed until 10.45 am with the Tel Aviv 25 Index down 6% in pre-market trading. Shortly after trading began, the Tel Aviv 25 Index was down 4.8% at 1099.67 points.

Article at Israel National News.

Tel Aviv and Saudi Arabia stock exchanges, the first to open after last week’s NY market plunge and cut in credit rating, sank by 6 percent.

Fasten your seat belts.

It’s gonna be a bumpy ride.


Update – End of business day in Israel, 7 August 2011.

Article at ‘Globes’.

Panic on TASE as Tel Aviv 25 Index plunges 7%

Investors sold more than NIS 1 billion worth of shares while options trading saw the shekel weaken to NIS 3.6/$.

Thankfully sanity ruled and the market ‘stabilized’ at only a 7% drop.

— — — — —

Kenny Solomon
Israel Survival Updates
Everything I need to know about Islam I learned at the age of 13 on September 5th 1972.

10…… 9…… 8…… 7…………
Tool up…… It’s coming…… You know…… “It”.

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