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”.
