Israeli and Saudi stock markets fall as Middle East conflict intensifies.

After Israeli Prime Minister Benjamin Netanyahu's government began airstrikes against Iran, the Israeli stock market fell on the first trading day, while Saudi Arabia's stock benchmark index also slid due to concerns over the potential escalation of conflict in the region. The Tel Aviv Stock Exchange 35 Index opened on Sunday with a 1.5% drop, continuing last week's 1.5% decline. The Tadawul All Shares Index fell by 2.5%. The Egyptian EGX 30 Index plummeted by 7.7%, marking the largest drop in over a year. This selloff occurred as Israel and Iran continued to attack each other's territories for the third consecutive day. Last Friday, when the conflict erupted, the Israeli shekel exchange rate saw its largest drop in 11 months, while oil prices surged by 7%. The worsening conflict has also sent shockwaves through financial markets, driving investors into traditional safe haven assets such as gold and the US dollar.