Israel shekel and stocks fall after Netanyahu bloc lacks majority
Israel's stock market and the shekel both dropped on Wednesday after election results showed Prime Minister Netanyahu's bloc did better than expected but still didn't secure a majority.
The shekel weakened around 2% to 3.1185 to the dollar, on track for its worst day in 16 months, while Tel Aviv's main stock index fell around 3%.
Bond yields also ticked up as investors reacted to the uncertainty.
Israeli investors nervous over political uncertainty
With about 71% of votes counted, Netanyahu's right-wing bloc is set to win 54 out of 120 seats, short of the 61 needed for a majority.
Analysts say this could make forming a stable government tricky and might even mean another election.
All this political back-and-forth is making investors nervous and raising questions about where Israel's economy goes from here.