Stocks on the Tel Aviv Stock Exchange closed sharply lower Wednesday, extending a three-day slide as investors weighed the looming ceasefire agreement between the United States and Iran and uncertainty over Israel’s northern border.
The benchmark TA-35 index fell 1.35%, the broader TA-125 lost 1.72% and the TA-90 dropped 2%.
Sector indexes also posted steep losses. The TA-Cleantech index fell 5.3%, the TA-Energy Infrastructure index dropped 6% and the TA-Technology index declined 3.67%. Shares of Meshek Energy and Doral Energy each lost about 12% of their value.
It was the third consecutive trading day of significant declines. Market analysts said investors were concerned about the emerging U.S.-Iran agreement to end the war and uncertainty over whether fighting would continue along the Lebanese border.
On Tuesday, the TA-35 fell about 1%, the TA-125 declined 1.1% and the TA-90 lost 1.3%. On Monday, the losses were sharper, with the TA-35 down about 2%, the TA-125 down 2.3% and the TA-90 down 3.4%.
Since the start of June, the exchange’s three main indexes have posted steep declines. The TA-90 has fallen nearly 11%, erasing almost all of its gains since the beginning of the year. The TA-125 has lost 8%, while the TA-35 is down about 7%.
Foreign currency trading was relatively calm after weeks of volatility. The representative exchange rate was set at 2.91 shekels to the dollar and 3.38 shekels to the euro, nearly unchanged from Tuesday.