Tel Aviv Stock Exchange Opens Amid Global Market Declines and US Rate Hike
The Tel Aviv Stock Exchange is expected to open its trading day following significant drops on Wall Street and a recent interest rate hike by the US Federal Reserve. The Federal Reserve raised its benchmark interest rate for the first time in three years and signaled further increases are likely.
On Tuesday, the Dow Jones Industrial Average fell by 1.2%, the S&P 500 lost 0.5%, and the Nasdaq Composite closed unchanged. However, futures trading for the major US indices showed gains of 0.7% on Wednesday morning. Asian markets are trading mixed, with oil prices remaining relatively stable.
Despite the global downturn, the Tel Aviv Stock Exchange saw gains on Tuesday, with the TA-35 index rising 1.3% and the TA-125 index strengthening by 1%. Investors are now awaiting the local market's reaction to the international economic developments.