2023-10-08 12:38:52
The Tel Aviv stock exchange fell sharply on Sunday morning following Hamas’s attack on Israel the day before. The main index has lost 7.5 percent of its value, the strongest decline in at least three years.
Investors also mainly suffered losses on other stock exchanges in the Middle East that opened on Sunday. The stock market in the Saudi capital Riyadh fell by regarding 1 percent and the ECX index in Egypt fell by 1.3 percent.
There are fears of a further escalation of violence. Hamas’s attacks on Israeli civilians and soldiers are the deadliest in recent decades. Israeli Prime Minister Benjamin Netanyahu has announced a prolonged military counterattack. US President Joe Biden pledged his “unwavering support” to Israel.
Even before the new attacks by Hamas, there were concerns regarding Israel in the financial markets. The shekel, the national currency, recently reached its lowest point once morest the dollar.
This is partly due to uncertainty regarding the divisions surrounding the far-right government coalition. He wants to reform the judiciary in such a way that, according to critics, the rule of law is weakened.
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