Tel Aviv Stock Exchange Suffers Major Loss amid “Al-Aqsa Flood” Operation

Tel Aviv Stock Exchange indices fell by more than 6% in the first trading following the “Al-Aqsa Flood” operation carried out by the Hamas movement.

According to Reuters, government bond prices also fell by up to 3% a day after the widespread attack.

Investors are closely monitoring developments in Israel and the risks they may pose to markets, and some expect the violence to push them toward safe assets.

Yesterday, a new escalation broke out between Israel and the Gaza Strip, after a surprise military operation carried out by Hamas, which fired thousands of rockets and penetrated into Israeli territory and captured Israelis.

According to the Israeli army, since six o'clock on Saturday morning, "more than 3,000 rockets were fired by Hamas in Gaza towards Israel."

It explained, "More than 20 colonies in southern Israel were invaded by Hamas activists, who attacked and stormed homes and killed civilians."

It pointed out that "Israeli civilians and soldiers were kidnapped and held hostage in Gaza; with more more than 300 victims and more than 1,000 wounded."

Western countries, led by the United States, condemned the attack and pledged to support Israel.

Analysts say that escalating geopolitical risks may prompt a buying wave of assets such as gold and the dollar, and may also boost demand for US Treasury bonds.