Two days of declines on Wall Street erased 5.1 billion shekels from savings

Two trading days on Wall Street wiped out approximately 5.1 billion shekels from Israeli public savings, due to the high exposure of institutional investors to chip stocks. The analysis was based on 11 major stocks, including Nvidia, Alphabet, TSMC, and Amazon. Menora Mivtachim has the largest exposure.

The last two trading days of October on Wall Street erased about 5.1 billion shekels from Israeli public savings, due to the high exposure of institutional investors to the chip market. The analysis was based on 11 stocks that were at the center of the declines and on the holdings reported by institutions at the end of June. The largest exposure is to Nvidia (11.16 billion shekels), followed by Alphabet (10.6 billion shekels), TSMC (7.54 billion shekels), and Amazon (7.4 billion shekels). Menora Mivtachim has the largest exposure among institutions, with holdings of 14.4 billion shekels. The sharp declines came at the end of a volatile October: the Nasdaq lost 5.3%, the S&P 500 fell 0.9%, and the Dow Jones rose 1.7%. In Israel, the TA-35 index lost 3.5%. Despite the weak month, cumulative returns since the start of the year are expected to remain positive: 6.4% in the general track and 11.6% in the equity track.