Tel Aviv exchange halts trade after 6% fall

JERUSALEM — Trading on Israel’s Tel Aviv stock exchange was temporarily halted on Sunday after share prices fell six percent at the open on news of a US credit rating downgrade, public radio reported.
Trading opened as normal on Sunday, the first day of Israel’s working week, but mandatory suspensions went into effect minutes into the session as the stock exchange plunged.
Both the blue-chip TA-25 and the TA-100 indices dropped more than five percent in pre-trading, prompting the exchange to put into effect a practice known as an “English opening,” with trading delayed for short periods.
“What happened this morning is that during pre-trading, the TA-25 went down more than five percent, so there are a few actions that are taken,” exchange spokeswoman Idit Yaaron told AFP.


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