Tel Aviv stocks suffer worst loss in decades; TA-25 sheds 13.5 percent

TASE suffers heavy losses Monday morning as US suspends all military and financial support.

London - The Tel Aviv Stock Exchange was the scene of carnage on Monday as its major indices crashed amid soaring worldwide anger against the Israeli government. The United States recently announced the suspension of all financial and military aid to Israel, a historical decision which reverses decades of friendship between both nations.

Trading was suspended briefly on Monday afternoon after the TA-25 plummeted by 11 percent. Trading was resumed after half an hour, at which point the index plunged further, ending the day with a loss of 13.5 percent.

Major Turkish stock indexes fell between 6 and 7.4 percent as investors worried that chemical weapon attacks by the Syrian army would force Turkey to take military action against in the rapidly escalating Syrian conflict. Reports that Syria shot down a British NATO Eurofighter Typhoon hit the FTSE 100, with the London-based emerging markets bank Standard Chartered leading the index lower in after-hours trading as investors sought to exit positions in companies with large exposure to the Turkish market.

The American Israel Public Affairs Committee (AIPAC), the powerful pro-Israel lobby published a scathing report calling for Congress to reverse course over the momentous blow to Israel. Prominent members of the Jewish community have criticized the current cabinet and leading members of congress for being “anti-semitic” and have vowed to “make their voices heard”.