i24NEWS EnglishEconomy
Israeli Markets Tumble as Election Results Favor Netanyahu Bloc
Summarized from i24NEWS English by baba
CenterNeutral tone
Israeli stock markets and the shekel fell sharply on Wednesday as election results indicated Benjamin Netanyahu's bloc was gaining a majority. The TA-90 index dropped up to 3.5%, and the dollar rose to around 3.09 shekels. Market volatility was attributed to the changing election picture, with analysts predicting further shekel weakening if Netanyahu secures a majority. The results are also expected to influence upcoming fuel price hikes.
The story in 6 lines · by baba
- Israeli stock indices and the shekel fell sharply Wednesday following election results.
- The TA-90 index dropped between 3% and 3.5% amid concentrated selling in finance and real estate.
- The dollar rose to around 3.09 shekels, reversing earlier gains as Netanyahu's bloc strengthened.
- Market swings were attributed to evolving election outcomes and optimism for a specific political bloc.
- Analysts predict the dollar could reach 3.20 shekels if Netanyahu's bloc secures a majority.
- Higher fuel prices are expected Thursday, partly due to the weakening shekel.
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