Tel Aviv stock plunge affects budget talks

Despite bailout bill, TA-25 Index down 6.33%, TA-100 Index drops 7.08% and Tel-Tech Index falls 11.5%.

By JPOST.COM STAFF
October 5, 2008 11:18
stock market great

stock market good 88 248. (photo credit: )

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Just days after US President George Bush signed into law a far-reaching $700-billion bill to bail out the tottering US financial industry, the Tel Aviv Stock Exchange remained shaky, registering sharp losses on Sunday. By noon, the TA-25 Index had already dropped 6.33 percent and the TA-100 Index fell by 7.08%. The Tel-Tech Index dropped by 11.5% and the Real Estate Index dropped by 11.04 percent. The passage of the bailout plan in the US capped two weeks of tumult in Congress and on Wall Street, punctuated by daily warnings that the United States confronted the gravest economic crisis since the Great Depression of the 1930s if lawmakers failed to act. Investors had been anxious for a resolution on the government's plan to buy up bad assets from banks and other institutions to shore up the financial industry and help resuscitate credit markets. This was reflected in trading throughout the world on Friday as many markets registered notable losses. The poor opening on Sunday in Tel Aviv also reflected this uncertainty. AP contributed to this report

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Jisr az-Zarq
April 3, 2014
Residents of Jisr az-Zarqa beckon Israel Trail hikers to enjoy their town

By SHARON UDASIN

Cookie Settings