Biden Pressures Israel For Ceasefire, Signals Possible US Policy Shift; Netanyahu Stands Firm Against Iran
Portfolio Pulse from Piero Cingari
President Joe Biden has called for an immediate ceasefire in the Gaza war, marking a significant shift in U.S. policy towards Israel. This comes after an Israeli military operation killed seven individuals associated with the World Central Kitchen. The White House demands concrete actions from Israel to address civilian harm and ensure the safety of aid workers. In response, Israel has committed to adjusting its military tactics and promised a swift inquiry into the incident. Israeli stocks, including the iShares MSCI Israel ETF (EIS), have seen a significant drop following these developments.
April 04, 2024 | 8:58 pm
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The iShares MSCI Israel ETF (EIS) experienced a significant drop, closing 3.9% lower, marking its worst performance since Oct. 9, 2023, following the escalation in Gaza.
The call for an immediate ceasefire by President Biden and the subsequent Israeli military operation's scrutiny have led to a negative sentiment towards Israeli stocks, including EIS. The ETF's significant drop reflects investors' concerns over the escalating situation and its potential impact on Israel's economy and security situation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90