Solanio and Salarino learn new information all but confirming that the wrecked trading ship in the English Channel belongs to Antonio. Meanwhile, Shylock enters, still in a rage over Jessica. Upon learning that Antonio’s holdings are at risk and that the merchant may be forced to forfeit his bond, Shylock vows to follow through on the terms of the contract and collect his pound of flesh. In explaining why, Shylock says:

[Antonio] hath disgraced me [...] and what’s his reason? I am a Jew. Hath not a Jew eyes? Hath not a Jew hands, organs, dimensions, senses, affections, passions, fed with the same food, hurt with the same weapons, subject to the same diseases, healed by the same means, warmed and cooled by the same winter and summer, as a Christian is? If you prick us, do we not bleed? If you tickle us, do we not laugh? If you poison us, do we not die? And if you wrong us, shall we not revenge? (3.1.53-66).

Shylock’s friend Tubal enters to report that he’s been unable to locate Jessica. He knows only that she traded a ring given to Shylock by his late wife Leah for a monkey.