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Tel Aviv Market Plunges, Too

October 16, 1989
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The Tel Aviv Stock Exchange plunged sharply Sunday, with the value of shares falling up to 10 percent.

But there was little panic.

Members said the downward swoop was an “expected development” and not a direct result of the sudden break on the New York Stock Exchange, which fell 190 points Friday, the second largest drop in points in its history.

Traders said the Tel Aviv market was more affected by rumors of an impending Cabinet crisis. Israeli investors worry that the Likud-Labor coalition government might break up because of sharp differences over the peace process.

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