Israeli stocks hit hard by unrest

NEWS In the wake of the 11 September terror attacks in the US and continued unrest in the Middle East, Israeli tech stocks have taken a hammering on the Nasdaq and have this week fallen to new lows. One month on from the attacks and industry leaders such as Check Point and Mercury Interactive have issued profit warnings and smaller companies have seen their valuations plummet to unprecedented levels. Israel boasted the highest number of Nasdaq listed companies for any country outside North America but those companies have now watched as investors have shied away from their stock. The Financial Times suggest a number of companies who passed over the Tel Aviv Stock Exchange in favour of a listing on Nasdaq may now consider returning home to less hostile investment waters.