A massive explosion has rocked the Jabalya refugee camp, the largest of all the refugee camps in the Gaza Strip, situated in its northern region. This explosion resulted in a considerable number of casualties, as confirmed by officials from both Israel and Hamas. Images from the site depict numerous large craters in the ground, surrounded by the wreckage of buildings that have been either destroyed or damaged.

Authorities under the control of Hamas have pointed the finger at the Israel Defense Forces (IDF) for this explosion. According to the CNN, IDF spokesperson Lt. Col. Richard Hecht has indicated that the IDF’s target was a high-ranking Hamas commander in the area. The airstrike resulted in the killing of Ibrahim Biari, the commander of Hamas’s Central Jabaliya Battalion.

The IDF’s statement notes that “approx. 50 terrorists” lost their lives during the operation, and an underground terror infrastructure hidden beneath the buildings used by the terrorists collapsed following the strike.

Hecht also informed CNN that the Hamas commander in question had taken refuge among civilians, a common tactic employed by the group.

According to reports from the Gaza Ministry of Interior, a total of 20 residential homes were completely razed in the Jabalya Refugee Camp. Gaza’s Indonesian hospital witnessed the arrival of hundreds of dead and injured individuals, with many still trapped under the rubble.

The terrorist organization has appealed to Arab and Muslim nations, urging them to adopt a significant and resolute position to halt the acts it characterizes as “massacres” perpetrated by Israel, along with what it terms a “genocide” targeting the Palestinian population, as Al Jazeera reported.

During a Senate committee hearing on Tuesday, U.S. Secretary of State Antony Blinken suggested that it would be most logical for an “effective and reinvigorated Palestinian Authority” to assume governance and security responsibilities for Gaza, emphasizing that Israel has no intentions of assuming control over the territory.

Blinken’s opening remarks were frequently and persistently disrupted by protesters demanding a ceasefire in Gaza, as the CNN reported.

U.S. House Speaker Mike Johnson indicated that he anticipates the House’s Israel aid package to be brought to the floor for consideration on Thursday, as disclosed during an interview with Fox News.

As the Times of Israel reported, UN Secretary-General Antonio Guterres expressed deep-seated concern over the intensifying conflict between Israel and Hamas, which encompasses ground operations by the IDF, an onslaught of intense aerial bombardments, and the persistent launching of rockets from Gaza into Israel.

Markets Reactions

Wall Street extended gains Tuesday, as traders recalibrate their outlook ahead of the Fed policy meeting.

The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.6%, after rising 1.2% on Monday. The tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) was 0.4% higher.

The iShares MSCI Israel ETF (NASDAQ:EIS) was flat after rallying over 4% Monday. Cathie Wood‘s ARK Israel Innovative technology ETF (NYSE:IZRL) rose 2%.

The U.S. dollar, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), rose 0.4%.

Gold, as monitored by the SPDR Gold Trust (NYSE:GLD) fell to $1,990/oz, down 0.4% for the day.

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