Third Straight Day of Sharp Drops on the Tel Aviv Stock Exchange

Trading on the Tel Aviv Stock Exchange was marked Wednesday by steep declines across the board. The TA-35 fell 1.9%, the TA-125 lost 2%, and the TA-90 also dropped 2%. Among sector indexes, TA Cleantech plunged 6%, as did TA Energy Infrastructure, while TA Technology slipped 4%.

Several individual shares saw especially heavy losses. Meshak Energy and Doral Energy each dropped about 11%, Cellcom fell 7.4%, and Nofar Energy declined 7.1%.

This was the third consecutive trading day of significant losses. Market participants are said to be worried by the expected agreement between Iran and the United States to end the war, while uncertainty remains over what will happen on the northern border.

The declines came after similar losses on Tuesday and even larger drops on Monday. Yesterday, TA-35 fell about 1%, TA-125 lost 1.1%, and TA-90 dropped 1.3%. On Monday, TA-35 sank about 2%, TA-125 fell 2.3%, and TA-90 dropped 3.4%. Since the start of June, the main indexes have recorded sharp cumulative losses, with TA-90 down nearly 11% and almost erasing its gains for the year, TA-125 down 8%, and TA-35 down 7%.

In foreign exchange trading, conditions were relatively calm after many weeks of volatility. The representative dollar rate was set at 2.91 shekels and the euro at 3.38 shekels, almost unchanged from Tuesday.