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HinduBusinessLine
1d
23
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Israeli, Saudi stocks down as Middle East conflict worsens
- Israeli stocks were down with the Tel Aviv Stock Exchange 35 Index falling 1.5% at the open on Sunday.
- Saudi stocks also declined with the Tadawul All Share Index sliding 2.5%.
- Egypt's EGX 30 Index experienced a significant drop of 7.7%, the largest in over a year.
- The ongoing conflict between Israel and Iran led to the selloff as both nations attacked each other's territories for three consecutive days.
- The shekel recorded its biggest drop in 11 months, and oil prices spiked by 7% due to the hostilities.
- The escalating conflict prompted a surge in demand for traditional safe-havens like gold and the dollar.
- Markets were closed on Friday amidst the intensifying conflict.
- Investors are closely monitoring the Iran-Israel conflict, crude oil prices, and the upcoming US rate decision this week.
- The heightened tensions in the Middle East have sent shock waves through financial markets.
- The situation remains fluid and continues to impact global markets.
- The geopolitical turmoil in the region has led to increased volatility in various asset classes.
- The conflict underscores the broader implications for regional stability and economic risks.
- The rise in demand for safe-havens reflects investor concerns over the escalation of tensions.
- The developments in the Middle East conflict are driving market uncertainties and influencing trading patterns.
- The market reaction highlights the interconnectedness of geopolitical events and financial markets.
- More in-depth coverage can be found on bloomberg.com.
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