Chief Rabbis Shlomo Amar and Yona Metzger declared that a special day of prayer will be held on Thursday dedicated to the global financial crisis.
In a message published under the title "A Day of Prayer and Outcry", the rabbis wrote: "We ask our brethren to gather at synagogues and places of Torah study on Thursday to say a prayer and ask for mercy following the financial crisis that has swept the world.
"Many a good people have already been affected, and the Torah and education institutes are barely coping, with some facing the risk of closing down."
According to the rabbis, "Many factories have shut down, the workers have been let go and have lost their source of livelihood and their ability to provide for their families."
They therefore urged people to get to synagogue one hour early on Thursday, recite Slichot prayers, fast and donate to charity.