Tel Aviv Stock Exchange opens to 6% losses

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PostSun Aug 07, 2011 2:56 pm » by Dutchies


Israel stock exchange close after a 6% fall

The Tel Aviv Stock Exchange opened to major losses Sunday, as indices plunged by more than 6 percent, immediately prompting a series of brief suspensions in trading.

Upon opening, the TA-25 fell 5 percent to 1,100 points; the TA-100 plunged 5.2 percent; the TA-Banking Index dropped 5.3 percent; and the TA Real-Estate 15 fell 6.4 percent.

The losses come as the international markets were left reeling by the announcement Friday that Standard & Poor’s had downgraded the U.S. credit rating for the first time in history.

Trading began for several minutes in Tel Aviv on Sunday, but suspensions began almost at once, as the bourse reverted to what has been dubbed an “English opening.”

This measure aims to curb massive swings in the indices, primarily by extending the pre-opening trading phase in order to allow investors more time, in an effort to stabilize the market.

The move by the key credit agency reflected disappointment with last week's pact hiking the U.S.-borrowing limit, which called for roughly $2 trillion in deficit cuts over the next decade. It had previously called for cuts approaching $4 trillion.

Standard & Poor's cited "difficulties in bridging the gulf between political parties" as a major reason for the downgrade to AA +, a level down from AAA. The rating agency has essentially lost faith in Washington's ability to work together to address its debt.

The downgrade, hours after markets closed on Friday, is a first for the United States since it was granted an AAA rating in 1917. S&P warned about a downgrade as far back as April. S&P said Friday the planned deficit cuts did not go far enough.

http://www.haaretz.com/news/national/tel-aviv-stock-exchange-opens-to-6-losses-as-global-crisis-felt-in-israel-1.377396

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PostSun Aug 07, 2011 3:47 pm » by Truthsekr76


Stocks in the US are sure to take a real beating come Monday morning.I predict the DOW goes down 6-10% :nails: .Scary times in America right now.Damn those politicians...Dems and Repubs :bang; .

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PostSun Aug 07, 2011 4:17 pm » by Predatorger


Dow will be up tomorrow!
IMHO the downgrade is already priced in.

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PostSun Aug 07, 2011 4:54 pm » by Spirittrader


We'll probably gap rally low or tear ass down in the first 30-1hr... then have a rip your face off rally for the rest of the day. We gotta gap WAY low or sell really hard really fast for the rally to be sustainable. But I think this the most likely.

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PostSun Aug 07, 2011 8:12 pm » by Harbin


Down, down, all the fucking way baby !
:dancing:
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PostSun Aug 07, 2011 8:25 pm » by Passengerpidgin


DOWn Monday, but that will be the impetus for QE3... To be announced on Tuesday. Afterwards, markets will close the week at or above their current levels.

By the end of 2011, the hyperstagflation starts to ramp up and become noticeable to the sheeple- just as the "supercongress" begins its crusade for austerity and tax hikes.

In other news, the NFL season kicks off on 9/11... Expect riots after the Super Bowl when there is no NBA season to follow.

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PostSun Aug 07, 2011 8:38 pm » by Harbin


passengerpidgin wrote:DOWn Monday, but that will be the impetus for QE3... To be announced on Tuesday. Afterwards, markets will close the week at or above their current levels.

By the end of 2011, the hyperstagflation starts to ramp up and become noticeable to the sheeple- just as the "supercongress" begins its crusade for austerity and tax hikes.

In other news, the NFL season kicks off on 9/11... Expect riots after the Super Bowl when there is no NBA season to follow.

You should post more often. :flop:
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PostMon Aug 08, 2011 8:58 pm » by Truthsekr76


truthsekr76 wrote:Stocks in the US are sure to take a real beating come Monday morning.I predict the DOW goes down 6-10% :nails: .Scary times in America right now.Damn those politicians...Dems and Repubs :bang; .


Looks like my prediction is coming true.Have a look at the market yet?
I predict tomorrow will be even worse.I think the whole financial meltdown of the US that everyone has been talking about for 2 years now is actually happening.This could be catastrophic :nails: !

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PostTue Aug 09, 2011 2:19 am » by Predatorger


predatorger wrote:Dow will be up tomorrow!
IMHO the downgrade is already priced in.


I was soooo wrong! :bang; :D

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PostWed Aug 10, 2011 3:41 am » by Passengerpidgin


Thanks, Harbin. It turns out I was wrong about QE3, though... it's going to be ZIRP to mid 2013!!!

Dow to 13,000, Dollar to 0.00!

BTW, why haven't you been picked up for reeducation? :)



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