Isabel Wang is a Markets Reporter for MarketWatch.
Exchange-traded funds that invest in Israel-related stocks were under pressure on Monday as the country stepped up airstrikes on the Palestinian enclave of Gaza in response to Saturday’s unprecedented attack by the militant group Hamas.
The $131 million fund, the largest to track the region, saw modest inflows of $5.4 million last week, but it has recorded a total outflow of $2.6 million so far in 2023, according to FactSet data. Cathie Wood’s ARK Israel Innovative Technology ETF IZRL also faced an immediate test, down 4.8% on Monday as investors closely watched events in the Middle East to gauge the risk to markets.The Israel-Hamas conflict stunned global financial markets on Monday. Israel declared war on Hamas after the Palestinian militant group staged a surprise attack over the weekend, killing nearly 1,600 people and wounding thousands on both sides, according to Associated Press.
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Israel ETFs tumble the most since March 2020 as Israel-Hamas conflict intensifiesIsabel Wang is a Markets Reporter for MarketWatch.
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Israel-Hamas conflict live updates: Israel declares war as death toll in Israel, Gaza passes 900Israeli forces responded to unprecedented attacks by Hamas militants from Gaza. Hezbollah said it attacked Israeli targets near the Lebanon border.
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