Israel stocks plunge after Hamas assault

Tel Aviv, Oct 8 (IANS) The Tel Aviv Stock Exchange plunges as investors brace for uncertain times on the day after an unprecedented surprise attack on Israel was launched from Gaza by the Hamas terror group, Israeli media reported.

The TA-35 stock index of blue-chip companies falls 4.8 per cent, the benchmark TA-125 index declines 5 per cent and the TA-90 index, which tracks the shares with the highest capitalization not included in the TA-35 index, is down 5.8 per cent, Times of Israel reported.

The TA-Bank index of the five largest banks slumps 6.3 per cent. Though Israel is no stranger to terrorist attacks, Saturday’s assault was unprecedented – not least because of the lack of warning, CNN reported.

Israel’s military on Saturday found itself caught off-guard, despite decades in which the country became a technology powerhouse that boasts one of the world’s most impressive armed forces and a premier intelligence agency, CNN reported.

The gunmen came from air, sea and land. They shot at civilians, took hostages and forced families to barricade themselves indoors, fearing for their lives.

A day that began with air raid sirens blaring out in the early morning had by lunchtime turned into one of the most terrifying attacks Israel has known in the 75 years of its existence. Assailants from Hamas, the Islamist militant group that controls the impoverished and densely populated Gaza Strip, had by nightfall killed hundreds of people and wounded hundreds more.

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