At least nine people have died and another 50 injured in the city of Jenin as Israel launched one of the most extensive operations in the West Bank in over two decades.

Palestinian officials reported nine deaths, according to NPR, while the official account from the Israeli army included five armed suspects.

The operation represents Israel’s most recent response to confront a new generation of loosely affiliated militants in the West Bank.

Israel said the raid was conducted in order to address Jenin's status as a "safe haven for terrorist operatives," while the Palestinian Authority called the attacks a "war crime."

Last month, an Israeli drone operation which killed three Palestinians was said to be the first precision strike in the West Bank since 2006, according to Israel's i24 News.

"We're ready to do this as long as it takes," said Lt. Col. Richard Hecht, spokesperson for the Israel Defense Forces, during an interview from the West Bank.

The main target of the attacks is the Jenin camp, a refugee camp founded in 1953 which has been described by Israel as a stronghold of Palestinian militants. About 11,000 people live in the camp, according to the Palestinian Central Bureau of Statistics. Water and electricity have been cut off from the camp due to the attacks, according to Al Jazeera.

Jenin Mayor Nidal Obeidi called the attack a "real massacre and an attempt to wipe out all aspects of life inside the city and the camp."

Hecht says Israel Defense Forces are trying "to break the safe-haven mind-set" at the camp. According to military sources, the location had provided refuge in recent months to at least 19 individuals suspected of instigating attacks on Israelis.

Israel reported that at least 50 shooting attacks emanated from Jenin so far in 2023. The current air strike operation in the West Bank surpasses any previous one since the Palestinian uprising of 2000 to 2005.

114 Palestinians have been killed by Israeli forces in the West Bank in 2023, while 19 Israelis have died under Palestine attacks so far this year, as per U.N. reports.

Tor Wennesland, U.N. special coordinator for the Middle East Peace Process, said on Twitter that "the current escalation in the occupied West Bank is very dangerous and follows months of mounting tensions."

Wennesland referred to the Israeli occupation of the West Bank and said that the situation is extremely volatile and unpredictable.

The events did not cause a significant impact on investors, and ETFs following the Israeli economy were not experiencing volatility Monday afternoon.

Ishares Msci Israel ETF (NYSE:EIS), which covers a broad range of companies in Israel, was up 0.1% on Monday at the time of this writing.
Ark Israel Innovative Technology ETF (BATS:IZRL), which covers Israel's disruptive innovation in genomics, health care, biotechnology, IT and other industries, was down 0.45% on Monday.
BlueStar Israel Technology ETF (NYSE:ITEQ), following the Israeli tech sector, was up 0.3%.

Shutterstock Photo: View of a Jewish Settlement in the West Bank.

Israel Initiates Major Operation In West Bank's Jenin, Palestinians Report 9 Fatalities