Elbit Systems Ltd (ESLT)

Shares of Elbit Systems Ltd. (ESLT) dropped by 7.87% from $211.86 to $195.19 in the trading on Monday, October 16, 2023. The reason why ESLT stock down is due to the Israel-Hamas war, which prompted investors to seek safer assets. Concerns about the conflict led investors to favor low-risk government bonds, and certain defensive sectors, like utilities, energy, and real estate, outperformed the broader market. Additionally, volatile oil prices raised worries of a potential regional oil supply disruption. Amidst geopolitical uncertainty, gold prices rebounded by about 2%, as gold is viewed as a stable asset during economic and market turmoil. The war had a significant impact on ESLT's stock due to its involvement in defense electronics and international programs.