Economy

Both Coke and Pepsi face challenges from a 25% US tariff on aluminum imports introduced in March, which could raise soda prices.

Gold futures rose by more than 1%, completing a 21% rally since the start of the year. Analysts say investors are fleeing market volatility, with one noting, “No one wants to be exposed to another whim from the White House.”

The foreign exchange market opened with significant capital flows into the dollar, as trading rooms report heavy activity by Israeli institutional investors. The activity reflects concerns that President Donald Trump's tariff plan, which went into effect today, could accelerate the decline of the local economy.

Market analyst Jim Cramer of CNBC warned that the US could be heading toward another "Black Monday" scenario, referencing the historic 1987 market crash that saw a 22.6% drop in a single day.

For Israel, the situation represents a significant economic challenge – a 17% tariff on exports to the United States, which stands as Israel's most crucial trading partner alongside the European Union.

Israel’s economy braces for impact as President Donald Trump’s new 17% tariff on exports to the US – its biggest trade partner – threatens to ripple through key industries like defense and high-tech.

The finance ministry noted that tariff collection from US imports – primarily in the agricultural sector – amounts to about 42 million shekels ($11.3 million) annually.

The amendment to the Basic Law: The Judiciary, which changes the composition of the Judicial Selection Committee, passed in the Knesset on Thursday morning. In Israel’s major trading rooms, concern is mounting over how foreign investors might react. Market jitters were already apparent Wednesday, as US stocks declined following tariffs imposed by President Trump on imported cars, a move that has further shaken confidence among market participants.

The Chapter 11 filing allows 23andMe to continue operating while pursuing potential buyers through a court-supervised auction.

Fears of a looming israeli constitutional crisis spiraling out of control are now roiling the stock market, as institutional investors brace for an exodus of foreign investors and begin offloading assets at any price.