Sunday, August 7, 2011

Israeli Stock Market Down 7%, Most Since 2000

Israel's benchmark stock market is down hard, and temporarily suspended trading due to downside volatility.

’s benchmark stock index plunged the most in almost 11 years after
Standard & Poor’slowered the U.S. credit rating and amid concern the widening sovereign debt crisis in Europe will stall global growth.
Israel Discount Bank Ltd. (DSCT), the country’s third-largest lender, skidded 10 percent. Nice Systems Ltd. (NICE) slumped the most since November 2008.
All 25 shares in the TA-25 Index tumbled, pushing the gauge down 7 percent, the biggest decline since October 2000, to 1,074.27 at the 4:30 p.m. close in Tel Aviv. The index is near the so-called bear-market territory after retreating 19.9 percent from a record high of 1,341.89 on April 21.
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