Israeli stock-market plummets as US-China trade war escalates

August 26, 2019 by Arye Green -TPS
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The Israeli stock market is showing the consequences of the global trade war, as the major indexes suffer substantial losses as trading commenced yesterday.

Photo: Andrew McIntire/TPS

The screen at the Tel Aviv stock exchange turned red on Sunday morning, as the major indexes dropped. The TA-35 Index lost 2.66% of its value the TA-125 Index plummeted by 2.71% and the TA-RealEstate decreased in value by 2.29% during the first half of Sunday’s trading.

The losses in the Israeli stock market mirror the sentiments of investors worldwide, as the trade war escalated during the weekend. The stocks around the world already signalled the investors’ dissatisfaction from the US-china trade war on Friday, as they suffered significant losses.

Over the weekend intensions to initiate new tariffs were declared by China and the US, maintaining high tensions in the global economy, and as signs of a worldwide recession are becoming clearer.

Israeli stock markets are an early indicator for global economic sentiments at the beginning of the week, as the stock markets around the world don’t operate on Sunday. On Sunday afternoon, at the G7 summit, President Donald Trump expressed regret over the trade war escalating and said he is having second thoughts.

The Israeli stock exchange could be an excellent live indicator for the investors’ reaction to the latest trade war developments.

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