Israel Stocks Fall Most in 11 Years on Concerns About Global Growth, Debt -
Israel’s benchmark stock index fell the most in 11 years yesterday, closing just shy of so-called bear-market territory, on investor concerns with faltering global growth and protests against the domestic cost of living.
The index plunged 7 percent, the most since October 2000, to 1,074.27 after Standard & Poor’s cut the credit rating of the U.S., one of Israel’s largest trading partners, on Aug. 5. The gauge is down 19.9 percent from the record closing high of 1,341.89 on April 21. The slump left most Israeli-shares traded inNew York at a premium relative to their Tel Aviv prices. They had ended last week with the biggest discount on record.
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