(FORTUNE Magazine) – When U.S. jets bombed Libya, the world braced for a round of terrorist retaliation. Yet the international business community's initial response was calm. The Dow Jones industrial average paused only briefly, then soared to a record 1855.03 before falling off a bit. Oil prices did not rise after the assault on a major oil producer; they fell because OPEC once again failed to agree on production quotas. The Libya crisis did affect business. IBM Europe canceled a meeting of employees in Palma, Spain, for fear of terrorist attack. Pan Am announced plans to impose a $5-a-ticket surcharge to pay for beefed-up security; TWA said it might follow suit. Both money-losing airlines have been hit by cancellations on European routes, as fear of terrorism keeps Americans at home. That is good news for travel-related businesses in the U.S. (see Selling). In the recent stock market surge, the big gainers included Marriott, Walt Disney, and McDonald's. U.S. companies abroad have grown accustomed to terrorism. There were 763 reported attacks on corporations last year, mostly in Latin America, but no exodus followed. Security experts say companies will pull out if a government either turns hostile (Iran) or can no longer guarantee the safety of its guests (Lebanon). Both situations may be developing in Sudan, where an American diplomat was shot after the Libya bombing and the dependents of U.S. personnel were evacuated. Says Eugene Mastrangelo, senior analyst at Risks International, a consulting firm in Alexandria, Virginia: ''When the state becomes part of the problem, it could be time to run.''