Tel Aviv Stock Exchange Deep in the Red Amid Aggressive Profit-Taking From Record Highs

The value of chip stocks on Wall Street was cut by $1.3 trillion, the Nasdaq fell 4%, and the shekel is moving back toward 3 per dollar. The dollar is surging after the drops on Wall Street, Simed announced bankruptcy, and the Securities and Exchange Commission opened an investigation after the employment report. The market is pricing in a 100% chance of a U.S. interest rate hike this year, double the forecasts, following growth of 172,000 jobs in the U.S. labor market.