Tel Aviv Stocks and the Shekel Weaken as Iran-US Fighting Resumes

Tel Aviv's TA-35 and TA-125 indices swung from early gains to losses of about 1 percent in Wednesday, July 8, 2026 (17 Tir 1405) trading, as fighting between the United States and Iran resumed and the ceasefire collapsed. The Tel Aviv insurance index fell 3 percent the same day, with Menora Mivtachim down 4.2 percent, Harel down 4.1 percent, Clal down 2.8 percent, Phoenix down 2.5 percent and Migdal down 1.5 percent. The TA Cleantech index, which had fallen 4 percent on Tuesday, July 7, dropped a further 2 percent on Wednesday. The Israeli shekel also weakened against the dollar, with the dollar trading above 3.05 shekels and the euro at 3.49 shekels. Israeli media reported that investors were pricing in a higher risk of a renewed closure of the Strait of Hormuz alongside rising oil prices.