Wall Street’s main indexes dropped at the open on Monday as a deepening conflict between Israel and the Palestinian Islamist group Hamas roiled global markets and pushed investors toward safe-haven assets, while crude prices jumped over 3%.
The Dow Jones Industrial Average (.DJI) fell 147.74 points, or 0.44%, at the open to 33,259.84. The S&P 500 (.SPX) opened lower by 19.48 points, or 0.45%, at 4,289.02, while the Nasdaq Composite (.IXIC) dropped 105.12 points, or 0.78%, to 13,326.22 at the opening bell.
‘No electricity, no food, no water’: Israel orders complete siege of Gaza
Israeli Defense Minister Yoav Gallant on Monday ordered a “complete siege” of the Gaza Strip, blocking the entry of food and fuel into the enclave and cutting the electricity and water supply.
The death toll from the conflict between Israel and Hamas rose to more than 1,200, including roughly 700 people killed in Israel and nearly 500 in Gaza.
The Israeli military said it had called up an unprecedented 300,000 reservists and was imposing a total blockade of the Gaza Strip, signs it could be planning a ground assault there to defeat Hamas after it launched a humiliating attack.
