The Middle East conflict intensifies, regional stock markets fall.

On June 15, the Israeli stock market fell in the first day of trading after Israel launched an airstrike on Iran. Saudi benchmark stock indexes fell on heightened fears of a wider conflict in the region. The Tel Aviv Stock Exchange’s 35 index opened 1.5% lower on Sunday, extending last week’s 1.5% loss. All stock indexes on the Saudi Exchange fell 2.5 percent. Egypt’s EGX 30 index fell 7.7%, its biggest drop in more than a year. These markets are closed on Friday. Israel and Iran exchanged bombardments into their third day. On Friday, when hostilities erupted, Israeli sheqel posted its biggest drop in 11 months, while oil prices soared 7%. The worsening conflict has also sent shockwaves through financial markets, prompting investors to flock to traditional safe-haven assets such as gold and the US dollar.