After the declines on Wall Street last night: Tel Aviv Stock Exchange sharply weakens

The Tel Aviv Stock Exchange opened with sharp declines, following the drops on Wall Street last night. The TA-90 index is down more than 2%, TA-35 down 1.3%, and TA-125 down nearly 1.5%. The declines come amid a surge in US bond yields to record levels not seen since the subprime crisis, due to persistent inflation in the US and fears of another Fed rate hike.

The Tel Aviv Stock Exchange opened trading with sharp declines that intensified during the day. The drops follow those recorded last night on Wall Street, where the Nasdaq closed down 1.1% and the S&P 500 down 0.75%. Behind the declines is a sharp surge in US bond yields to record levels not seen since the 2008 subprime crisis. The 30-year bond yield rose to 5.44% and the 10-year yield reached 5.13%. The yield surge stems from US inflation that refuses to subside, increasing fears that the Fed will be forced to raise interest rates again. This is compounded by the growing US national debt and geopolitical tensions. The TA-35 index is down about 1.3%, TA-125 weakened by nearly 1.5%, and TA-90 is losing more than 2%.