Stock dropped sharply on the Tel Aviv Stock Exchange on Sunday, in the wake of plummeting markets across the world that began in China and caused tumbles in Europe and the US.
Fearing a new global financial crisis, Tel Aviv’s TA-100 Index saw its worst day of trading Sunday since September 2011, falling 4.10 percent. Total turnovers reached approximately NIS 1.4 billion ($360 million) with small shares and bio-med companies leading the drop. At the close on Sunday, the TA 25 Index lost 4.08 percent, hitting a new three month low.
Shanghai’s stock exchanged opened with an eight percent drop on Monday, throwing Asian markets into a frenzy. Tokyo’s Nikkei fell 3.09 percent by late morning and Seoul’s exchange dove by 1.88 percent.
Monday’s early losses follow a Friday nosedive in US and European stocks. The emerging currencies market plummeted with several commodities reaching historic lows.
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