U.S. Markets closed

Tel Aviv shares slide 5 pct in worst day since 2011

(Updates with closing prices)

JERUSALEM, Dec 23 (Reuters) - Israeli stocks slid on Sunday, posting their worst daily performance in more than seven years in a broad selloff that followed declines on Wall Street late last week.

The Tel Aviv 125 share index closed down 4.7 percent at 1,315.94 points, its largest decline since Aug. 7, 2011 but recovering slightly from an earlier drop of 6 percent. It remained above a year low of 1,266 set in April and below a year high of 1,676 in September.

The blue-chip TA-35 fell 5.1 percent to 1,450.75.

Israeli media reported that mutual fund redemptions were the highest ever.

Sunday's losses were led by a 29 percent drop in drugmaker Perrigo after Ireland demanded the company, formerly known as Elan, pay 1.64 billion euros ($1.9 billion) in taxes relating to 2013, a U.S. securities filing showed.

Teva Pharmaceutical Industries , the world's largest generic drugmaker, shed 8 percent while all other components in the TA-125 were down.

Government bond prices closed narrowly mixed. (Reporting by Steven Scheer)