Real estate stocks dropped for the first time in three days

Israeli stocks dropped for the first time in three days Wednesday, following declines in global markets as concern over US subprime mortgages spread. Real estate stocks including Africa Israel Investments Ltd. led the retreat. The TA-25 Index tumbled 23.46, or 2.1 percent, to 1,097.71 at the close, as all shares in the measure fell. Investors traded about NIS 2.43 billion of shares and convertibles.