Israel invades the gaza strip.

This seems/feels so much more important than the tit-for-tat skirmishes (simplifying) that occur every once in awhile between the two sides. I am not finding much in depth news coverage on the subject, or real alarm bells aside from the market plunge earlier in the day. Am I exaggerating the threat? I feel like the South Ossetia battle between Georgia and Russia netted more attention and its outcome had far fewer global consequences.