Global Markets: Blast hits Gaza hospital

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– The conflict between Israel and Hamas was inflamed on Tuesday when a massive blast occurred at a hospital in Gaza City, killing 500 people, according to Hamas. The militant group blamed an Israeli airstrike for the explosion, while the Israeli military said it was a rocket misfire by other Palestinian militants. United States President Joe Biden told Israeli Prime Minister Benjamin Netanyahu in front of media that the explosion appeared to be “done by the other team”. A planned summit between Biden and heads of state from Jordan, Egypt and Palestine on Wednesday was cancelled. Israel continued its strikes on Gaza on Wednesday, including in the southern part of the region which Israel said were “safe zones” for Palestinian residents.

– Congressman Jim Jordan (R-Ohio) failed in his first attempt to be voted in as Speaker of The United States House of Representatives on Tuesday, providing another example of a fractured Republican caucus. The combative lawmaker and ally of former President Donald Trump received 200 votes, shy of the 217 needed for the job. Minority House leader Hakeem Jeffries (D-N.Y.) received the most votes with 212. A second vote will take place later today. Kevin McCarthy (R-Calif.) was voted out as speaker two weeks ago, largely due to discontent from Republican hardliners.

– Ukraine’s Special Operations Forces claimed it eliminated nine Russian helicopters at two airfields in Russian-occupied areas of eastern and southern Ukraine during a nighttime attack on Tuesday. The long-range ballistic missiles delivered by the U.S. and used by Ukraine also hit military equipment, an air-defence system, ammunition warehouses, and runways. Meanwhile, Russia is attempting to storm the eastern Ukrainian city of Avdiivka in order to secure control of the Donetsk region.

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