"Israel's Market Plunge and Business Closures: The Aftermath of Hamas Attack"

Israeli stock and bond prices fell, businesses closed, and government bond prices dropped after Hamas gunmen from Gaza killed hundreds of Israelis and abducted an unknown number of others. Tel Aviv share indices ended nearly 7% lower, led by a 9% drop in banking shares. The shekel is already at its weakest level of the year due to a government plan to overhaul the judiciary. The violence is expected to have a more negative impact on the economy and fiscal budget. Airlines suspended flights to and from Israel, and companies like Delta and United Airlines cancelled operations. Schools were shut, and most stores, except supermarkets and pharmacies, were closed. Israel's Manufacturers' Association assured that factories would continue operating to limit concerns over scarcity of essential products.