Market Turmoil: Tel Aviv Stocks Tumble and Shekel Weakens

The leading stock indices on the Tel Aviv Stock Exchange fell sharply today, alongside a weakening of the shekel and climbing government bond yields, Globes and The Jerusalem Post reported. The steep declines, which heavily impacted the real estate, banking, and insurance sectors, erased all gains posted across Tel Aviv indices since the beginning of October and pushed them into negative territory.

The turbulence in financial markets followed the publication of Knesset election results, as mounting fears of political paralysis and prospects of another election replaced earlier investor optimism.