Dollar continues to plunge vs. shekel

US currency trading at around NIS 3.38; Tel Aviv Stock Exchange rises in first hours of trade.

stock exchange 224.88 (photo credit: AP)
stock exchange 224.88
(photo credit: AP)
The dollar continued to plummet in early morning trading on Tuesday, and towards the end of the morning was valued at around NIS 3.38. One day after markets around the globe suffered some of the worst losses since the beginning of the credit crisis, shares on the TA Stock Exchange was showing signs of recovery, with the TA-25 Index rising 0.52 percent and the TA-100 up 0.31%. On Monday, shares fell sharply at the Tel Aviv Stock Exchange, with the TA-25 Index seeing a drop of 4 percent to 964. The TA-100 was down 4.06% to 887 and the Tel-Tech 15 index of top technology stocks shed 1.53%. Wall Street suffered temperamental trading Monday as investors grappled with news of JPMorgan Chase & Co. buying the stricken Bear Stearns & Co. in a deal backed by the government. The Dow Jones industrials, down nearly 200 points in the early going, fluctuated into positive territory and then sank again by more than 100 points.