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Israeli stock market drops to lowest point in seven years

The Tel Aviv Stock Exchange plummeted to its lowest point in seven years, influenced by American and global downturns.

Screens show falling stocks at the Tel Aviv Stock Exchange, Dec. 23, 2018. Photo by Miriam Alster/Flash90.
Screens show falling stocks at the Tel Aviv Stock Exchange, Dec. 23, 2018. Photo by Miriam Alster/Flash90.

The Tel Aviv Stock Exchange plummeted on Sunday to its lowest point in seven years, influenced by American and global downturns.

At the end of the day on Sunday, the Tel Aviv 35 fell by 5.1 percent—the sharpest drive since Aug. 7, 2011—and the TA-125 Index dropped by 4.7 percent. Bank Shares Index all fell by 4.1 percent.

Some of the hardest-hit stocks were Perrigo global health care, one of the Tel Aviv exchange’s largest stocks, which nose-dived by 29 percent; Teva Pharmaceuticals, which dropped by 8 percent; IT stocks Hilan and Matrix, which fell 5.8 percent and 5.9 percent; and Delek Group, which was down 5.7 percent.

The major U.S. indexes fell 7 percent  this week and dropped more than 12 percent in December.

Unless the market swings upwards, this is anticipated to be the worst December for stocks since 1931.

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