Israel-Hamas Conflict Weighs on Markets; Israel ETF Down 10% in October While Some Defense Stocks Rise
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Shares of the iShares MSCI Israel ETF have tumbled since the start of the Israel-Hamas war, down 10.2% in October.
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Geopolitical tensions are weighing on investor sentiment and Israel-focused ETFs.
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Spillover effects like higher oil prices could slow U.S. consumer spending and complicate the Fed's inflation fight.
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While the iShares MSCI Israel ETF fell Monday, some smaller Israel ETFs rose. But all remain down in October.
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Aerospace and defense stocks may benefit from the conflict, with related ETFs gaining last week.