Updated 5pm

Heavy losses on the Tel Aviv Stock Exchange (TASE) were wiped out after US President Donald Trump announced he is postponing strikes on Iran’s power plants after "very productive talks on a full and final solution to the conflict between us in the Middle East."

The Tel Aviv 35 Index opened trading this morning down more than 2% but most of these losses were wiped out after Trump’s unexpected announcement. The Tel Aviv 35 Index is currently up 0.19% at 4,322.08 points. World markets have also rallied with Wall Street sharply higher and the price of oil has fallen from $113 a barrel to $103.

The shekel, which began the day more than 1% weaker against the US dollar, strengthened after Trump's announcement. This afternoon the Bank of Israel set the representative shekel-dollar rate 0.096% higher from Friday, at NIS 3.112/$, and the representative shekel-euro rate was set 0.226% higher, at NIS 3.5995/€.

Mizrahi Tefahot Bank chief markets economist Ronen Menachem says, "We are witnessing a sharp decline in oil prices, although they remain at least $10 above the pre-crisis level, because the markets will want to be convinced that at the end of the 5-day truce the campaign will indeed be completely over. This is the market that could be most damaged by a further escalation of tensions and its focus on energy facilities, and therefore it will also be hesitant to return to opening levels before things become completely clear."

Published by Globes, Israel business news - en.globes.co.il - on March 23, 2026.

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