Middle Eastern stock markets fall following fighting between Israel and Gaza
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Opening today, Sunday, October 8, stock exchanges in the Middle East responded to the fighting that began the day before between Israel and the Gaza Strip with a sharp decline in key indices. The Tel Aviv Stock Exchange’s TA-35 index of major companies fell 7%, the highest in three years. Egypt’s EGX30 stock index fell 5%, Saudi Arabia’s Tadawul All Share fell 1.5% and the Palestinian Stock Exchange suspended trading after its Al-Quds index fell 2%.
According to experts, investors’ concerns are caused by high uncertainty due to large-scale hostilities, which could affect not only Israel itself, but the entire Middle East region. “Internal contradictions in the Israeli political system will affect investor sentiment while the fighting continues,” the agency quotes Bloomberg Hasnain Malik, strategic analyst at the Dubai investment company Tellimer. “But this whole situation also increases risks for the region as a whole.”
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