Tel Aviv Stock Exchange Awaits November Opening After Disappointing October
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The Tel Aviv Stock Exchange is preparing for November trading after a 3.5% loss in October, with a 2% drop on Friday due to declines in insurance and semiconductor stocks. US markets also saw significant losses, with the Nasdaq Composite experiencing its worst month since March 2025. Intel's stock plummeted 29% on Friday after a weak forecast, wiping out billions in value.
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- Tel Aviv Stock Exchange lost 3.5% in October, ending the month with a 2% drop on Friday.
- The insurance sector index in Tel Aviv fell 9.7% in October, its largest monthly decline.
- Semiconductor stocks like Tower and Camtek dropped over 21% in October.
- US Nasdaq Composite had its worst month since March 2025, falling 2.9% on Friday.
- Intel's stock fell 29% on Friday after a disappointing forecast, its worst day since 1974.
The Tel Aviv Stock Exchange is anticipating the start of November trading following a challenging October, during which the main index lost 3.5%. On Friday, the market experienced a 2% decline, primarily driven by significant drops in the semiconductor and insurance sectors. The Tel Aviv Insurance index fell by 2.8% on Friday and recorded the largest monthly decrease among indices, down 9.7% for October.
In the semiconductor sector, Nova, Camtek, and Tower saw sharp declines on Friday, mirroring a trend in the US market. Over the month of October, Tower's stock plummeted by 22.8%, and Camtek dropped by 21.9%. Conversely, Elbit Systems experienced a substantial gain of 19.3%.
Globally, US markets also faced significant downturns. The Nasdaq Composite fell 2.9% on Friday, marking its worst day since June and its worst month since March 2025. The S&P 500 declined by 1.8%. Intel's stock crashed by 29% on Friday, its worst trading day since 1974, after issuing a disappointing forecast. This resulted in a loss of approximately $12 billion in value for the US government's holdings in Intel.
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