Preliminary election results suggesting a likely political deadlock sent Israeli
equities and the shekel lower on Wednesday. The benchmark TA-35 fell about 3%
intraday; the broader TA-125 dropped more than 3%. The shekel eased 2.3% to
3.1230 per dollar. Financials and real estate shares led losses. Preliminary
forecasts show no major bloc with a parliamentary majority. Saxo Bank said the
election uncertainty, alongside renewed US–Iran tensions, raises geopolitical
risk and could threaten diplomatic mediation; markets remain highly sensitive to
further Middle East developments.