Photo: Tel Aviv Stock Exchange building lobby / Yaniv Morozovsky, Wikimedia Commons / CC BY-SA 4.0
Tel Aviv stocks fell sharply in Thursday morning trading, with defense and technology shares leading the decline, Globes reported as of 10:25 a.m. Israel time.
The TA-35 index was down about 1.6% and the TA-90 about 1.1%, while the defense and technology indexes each fell more than 2% and the bank index was close to 2% lower. El Al shares were falling after the airline reported earnings at 10:00 a.m., the report said.
The drop in Israeli defense stocks matched losses in defense companies globally, as investors weighed whether a Democratic Congress could limit or slow U.S. defense spending. Chip and technology shares fell after Wall Street’s semiconductor selloff on concerns the new Congress could move to restrict data centers and AI infrastructure.
The figures are intraday moves, not closing prices. The declines follow a two-year rally in Israeli defense stocks and come as dual-listed companies weighed on trading.
JBizNews Desk | Tel Aviv
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