Israel’s stock market experienced a significant drop of 6.5% on Sunday, following an attack by Hamas fighters from the Gaza Strip, considered to be the deadliest in decades. Egypt’s stock market also fell by 2.6%, while Saudi Arabia’s market was down 1.6%.
Israeli Government Declares War on Hamas
Formally declaring war on Hamas, Israel’s government has opened the door for a massive retaliation after the surprise attack. The Associated Press has reported that the attack resulted in a total of 900 deaths and left thousands injured.
Global Market Reaction
In Asia, Hong Kong’s Hang Seng index managed to rise by 1.58%, while Japan’s Nikkei 225 experienced a slight decline of 0.3%.
Prime Minister Benjamin Netanyahu Responds
Israeli Prime Minister Benjamin Netanyahu expressed that the nation is now facing a long and difficult war, one that was forced upon them due to the brutal Hamas attack.
American Citizens Affected
According to Secretary of State Antony Blinken, reports have indicated that some American citizens may have been killed or taken hostage by Hamas. The Department of State is actively working to confirm these reports.