Egyptian stocks drop 6% after protests

[Joanne98]

Source: Marketwatch

LONDON (MarketWatch) — Egyptian stocks slumped 6% Wednesday, as nervous investors rushed to sell assets a day after thousands participated in a protest against the decades-long rule of President Hosni Mubarak.

The EGX 30 index fell 6.1% to 6,310.44 in intraday trading, accelerating intraday losses, according to the website of the Egyptian Exchange.

The index has declined almost 12% so far this year.

“The trigger is undoubtedly concerns about the protests yesterday, which were more extensive than many people expected,” said Graham Stock, chief strategist at Insparo Asset Management, which focuses on frontier markets.



Read more: http://www.marketwatch.com/story/egyptian-stocks-slump-5-after-protests-2011-01-26

[TomClash]

1. Shhhh . . . .

We're not supposed to talk about this. Our masters will tell us such talk might in some way be bad for Israel.