The conflict between Israel and Hamas is escalating, with international actors becoming involved. Hezbollah, an Iranian-backed militia, has launched missiles from Lebanon, and the head of the Kataib Hezbollah militia has threatened to target American bases if the US intervenes. US Secretary of State Antony Blinken is due to visit Israel to express support, and the US has delivered advanced ammunition to Israel. Treasury Secretary Janet Yellen has suggested that further sanctions on Iran may be imposed. The Israeli shekel has weakened by 0.2%, and the iShares MSCI Israel ETF (NYSE:EIS) fell 0.9% on Wednesday.