The Merchant of Venice certainly depicts Jews as a persecuted minority within the action of the play. Probably the most famous moment expressing this can be found in Shylock's "Hath not a Jew eyes" speech, found in Act 3, Scene 1. His entire revenge against Antonio is an act of vengeance for his own mistreatment at the hands of Christians.
Furthermore, we see this ill treatment depicted within the action of the drama itself. Shylock and Antonio have a disdain for one another, and this disdain is shown within the dialogue between the two. In this way, we can actually observe the mockery and antipathy which fuels Shylock's resentment.
As one final example, I'd suggest you read the play's climactic scene, where Shylock tries to enact his vengeance against Antonio, and note just how total his defeat and humiliation is. Consider the degree to which Portia herself seems to take satisfaction in his destruction, offering no clemency or compromise once the tide has turned; she pursues absolute destruction just as he did earlier (Act 4, Scene 1).
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