NSE hit as Iran-Israel war threatens economy

Nairobi Securities Exchange (NSE). [file Courtesy]

The escalation of hostilities between Israel and the United States on one side and Iran over the weekend has sent shockwaves through Kenya's economy, with the Nairobi Securities Exchange (NSE) taking an early hit Monday even as the shilling showed surprising resilience against the dollar.

The coordinated missile and drone strikes by US and Israeli forces on Iranian military and nuclear sites, which killed Supreme Leader Ayatollah Ali Khamenei, have triggered fierce retaliation from Tehran, rocking global supply chains and throwing critical trade routes into jeopardy. The conflict expanded to Lebanon by its third day as Israel and Hezbollah exchanged fire, while Iranian strikes hit airports in Bahrain and Dubai, causing damage and casualties.