ISRAEL AT WARTel Aviv Stock Exchange plummets as Israel grapples with state of war
ISRAEL AT WAR
Tel Aviv Stock Exchange plummets as Israel grapples with state of war
TA-35 and TA-125 fall by almost 7% a day after Hamas killed over 700 people in Israel and abducted dozens of civilians into Gaza
Tel Aviv Stock Exchange indexes plummeted at the start of trading on Sunday after Hamas killed over 700 people in Israel and abducted dozens of civilians into Gaza on Saturday. Key Tel Aviv share indices (TA-125), (TA-35) ended nearly 7% lower, led by a 9% drop in banking shares on turnover of 2.2 billion shekels ($573 million), and government bond prices fell as much as 3% in the market's initial response to the bloodiest attack on Israel in decades.
Gunbattles were still taking place against terror squads in Sderot and Zikim on Sunday morning. The terrorists were thought to have been in hiding overnight.
The military said that 10 tower blocks, which contained Hamas military installations, were struck in overnight air raids on Gaza, including the group's intelligence headquarters, while rocket fire to the south continued.
