World markets in turmoil after Trump attacks Fed

Donald Trump  photo: Reuters

The Tel Aviv Stock Exchange is also sharply down after President Trump criticized the US Fed's interest rate hikes.

International stock markets, which have already been falling over the past few weeks, went into a tailspin after President Donald Trump attacked the US Federal Reserve yesterday, saying it had "gone crazy" and had made "a mistake." Trump is focusing his criticism on the Fed's series of interest rate hikes, which is making borrowing more expensive. He also welcomed the fall in stock markets saying that a correction was expected. The Dow Jones fell 3.15% yesterday, S&P 500 fell 3.29% and Nasdaq fell 4.08%. Asian and European markets have followed suit this morning.

The Tel Aviv Stock Exchange (TASE) is down sharply this morning. The Tel Aviv 35 Index is down 1.56% at 1580.52 points after losing 1.36% yesterday. 33 of the 35 shares on the Tel Aviv 35 Index are down this morning - the exception being Perrigo Company (NYSE:PRGO; TASE:PRGO) which is up 0.73% and Sodastream International Ltd. (Nasdaq: SODA; TASE: SODA), which is up 0.02%.

Israel Chemicals (TASE: ICL: NYSE: ICL) is down 2.54%, Bank Hapoalim (TASE: POLI) is down 2.52%, Israel Discount Bank (TASE: DSCT) is down 1.79%, NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) is down 1.33% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is down 1.07%.

Published by Globes [online], Israel business news - en.globes.co.il - on October 11, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Donald Trump  photo: Reuters
Donald Trump photo: Reuters
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