From a likely recession to a weakening shekel, here's how the conflict with Hamas is impacting Israel's economy and markets

• The conflict with Hamas that began October 7 will have widespread financial implications for Israel. 
• A top Israeli economist said a recession in Israel is likely, and Fitch put the country's credit rating on watch for downgrade. 
• Meanwhile, the Israeli shekel has weakened roughly 4.8% in less than two weeks.

Tensions in the Middle East have continued to escalate since the Palestinian militant group Hamas killed 1,400 people in its attack on Israel on October 7.