Middle East Market Shares Plunge in Wake of S&P Downgrade

[michaelvail]

http://stratrisks.com/geostrat/501

The Mideast markets typically run Sunday to Thursday. However, the Saudi Arabia market is open on Saturday. The global selloff hit Saudi on Saturday and spread to Israel and Dubai on Sunday.

Israel Drops 7 Percent, 19.9% Since April 21

Israeli Stock Index Tumbles Most Since 2008

Israel’s benchmark stock index plunged the most in almost 11 years after Standard & Poor’s lowered the U.S. credit rating and amid concern the widening sovereign debt crisis in Europe will stall global growth.

[CountAllVotes]

1. they broke it

but they cannot fix it! Damn them all! :nuke:

:kick:

[quiller4]

2. If you listened to Greenspan this morning then you know the downgrade

is only part of the reason for the steep dropion the israeli market. Political unrest and widespread demonstrations, political unrest and growing dissatisfaction with the Natanyahu government, in some cases rioting in the streets,is also a contributing factor. 300,000 marched in TelAviv yesterday demanding social justice and lower cost of living. The goal of some of the protests is to topple the Netanyahu coalition government. Polling indicates that 90% of Israeli citizens support some of all of the protestors aims.

This widespread political unrest is responsible for at least some of the uncertaintity and fear in Israeli markets.

[Lint Head]

3. So goes S&P so goes the world.

Credit rating agencies just suck in general.

[femrap]

4. There have been massive protests

in Tel Aviv concerning the high costs of Rent and Food. Also protests in Jerusalem.

No one can make ends meet.

Greedy f*ckers everywhere.