Israeli stocks slide and shekel weakens amid election uncertainty

Israel’s stock market and its currency weakened on Wednesday amid inconclusive election result and political uncertainty over the establishment of the next government. The shekel weakened ⁠just over 1 percent to hit 3.09 rate against the dollar in the morning trade in Tel Aviv. It hit a three-week high on Tuesday as investors bet on a definitive outcome of the election that would remove political uncertainty and lead to the formation of stable coalition government.