Isabel Wang is a Markets Reporter for MarketWatch.
Exchange-traded funds that invest in Israel-related stocks were under pressure on Monday as the country stepped up airstrikes on the Palestinian enclave of Gaza in response to Saturday’s unprecedented attack by the militant group Hamas.
The $131 million fund, the largest to track the region, saw modest inflows of $5.4 million last week, but it has recorded a total outflow of $2.6 million so far in 2023, according to FactSet data. Cathie Wood’s ARK Israel Innovative Technology ETF IZRL was also facing an immediate test, down 5.7% on Monday as investors closely watched events in the Middle East to gauge the risk to markets.The Israel-Hamas conflict stunned global financial markets on Monday. Israel declared war on Hamas after the Palestinian militant group staged a surprise attack over the weekend, killing more than 1,100 people and wounding thousands on both sides, according to Associated Press.
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