News Brief

(IsraelNN.com) Investors, frightened by the rapidly deteriorating financial situation in the United States, dumped stocks Sunday and drove down indices two to four percent. Teva Pharmaceuticals sank by more than six percent following problems with one of its leading generic drugs and lawsuits.

Financial observers fear that the market may drop even further if the situation in the United States continues to worsen. Several banks have been declared insolvent, and there is growing concern of a domino effect on the entire economy, with serious repercussions on world markets.