itemprop=description content=Israel markets sink, businesses shut after Hamas attack
JERUSALEM - Israeli stock and bond prices slid and many businesses were closed on Sunday, a day after Hamas gunmen from Gaza killed hundreds of Israelis and abducted an unknown number of others.
"This round of violence is expected to be more prolonged and severe than previous ones, clearly having a more negative impact on the economy and the fiscal budget," said Jonathan Katz, chief economist at Leader Capital Markets. Finance Minister Bezalel Smotrich said he had directed heads of ministry departments to quickly provide the budgets required to help manage the war.
Another rival Israir said it was operating rescue flights from Larnaca in Cyprus but warned it may operate a reduced schedule in the coming days as foreign crew on some of its leased aircraft had asked to leave Israel. Israel's Manufacturers' Association said factories were still operating to limit concerns over any scarcity of food and other essential products.
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