War in the Middle East: Impact on Oil, Stocks, and Currencies
TL;DR Summary
Oil prices surged while stock markets and the Israeli shekel fell as investors reacted to the war between Hamas and Israel. Escalating tensions in the oil-rich Middle East spooked investors, leading to a rise in oil prices. The Israeli shekel weakened to its worst level since 2016, prompting the central bank to sell foreign currencies to stabilize the currency. Global investors fear the conflict could spill over to the wider region and impact the fragile global economic recovery.
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