Secretary Blinken Visits Israel, Affirms Strong US Support Amid Hamas Attacks; Markets Dip As Tensions Escalate
Portfolio Pulse from Piero Cingari
US Secretary of State Antony Blinken visited Israel to reaffirm US support amid Hamas attacks. The US Department of Defense has increased support by ordering additional advanced fighter jets to be deployed in the region. The US government will commence charter flights for US citizens looking to leave Israel. The markets experienced a sudden downturn due to escalating geopolitical tensions and a higher-than-expected increase in inflation in September. The S&P 500 index, as monitored through the SPDR S&P 500 ETF Trust (NYSE:SPY), experienced a significant 0.9% decline. The Invesco QQQ Trust (NASDAQ:QQQ) was down by 0.8%. The iShares MSCI Israel ETF (NYSE:EIS) saw a substantial drop of 1.8%. The ARK Israel Innovative Technology ETF (NYSE:IZRL) plummeted by 2.3%. The iShares MSCI Qatar ETF (NYSE:QAT) declined by 2.3%. The iShares MSCI Emerging Index Fund (NYSE:EEM) registered a 1.2% decrease.
October 12, 2023 | 7:38 pm
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NEGATIVE IMPACT
The iShares MSCI Emerging Index Fund (NYSE:EEM) registered a 1.2% decrease due to escalating geopolitical tensions and a higher-than-expected increase in inflation.
The escalating geopolitical tensions and higher-than-expected inflation have led to a risk-off sentiment in the market, causing a decline in the EEM ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The iShares MSCI Israel ETF (NYSE:EIS) saw a substantial drop of 1.8% due to escalating geopolitical tensions.
The escalating geopolitical tensions have led to a risk-off sentiment in the market, causing a decline in the EIS ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The ARK Israel Innovative Technology ETF (NYSE:IZRL) plummeted by 2.3% due to escalating geopolitical tensions.
The escalating geopolitical tensions have led to a risk-off sentiment in the market, causing a decline in the IZRL ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The iShares MSCI Qatar ETF (NYSE:QAT) declined by 2.3% due to escalating geopolitical tensions.
The escalating geopolitical tensions have led to a risk-off sentiment in the market, causing a decline in the QAT ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ Trust (NASDAQ:QQQ) was down by 0.8% due to escalating geopolitical tensions and a higher-than-expected increase in inflation.
The escalating geopolitical tensions and higher-than-expected inflation have led to a risk-off sentiment in the market, causing a decline in the QQQ ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) experienced a significant 0.9% decline due to escalating geopolitical tensions and a higher-than-expected increase in inflation.
The escalating geopolitical tensions and higher-than-expected inflation have led to a risk-off sentiment in the market, causing a decline in the SPY ETF.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100