Egyptian stocks slide after violent protests
Egypt stocks tumbled Thursday morning in the aftermath of violent clashes between pro and anti-Morsi supporters that left at least five dead and some 500 injured Wednesday night.
The main EGX30 index slid 4.3 per cent to sit at 4,854 points 45 minutes into the session. The broader EGX70 also dropped, by three per cent.
Political turbulence has taken its toll on the exchange since 22 November when President Mohamed Morsi issued a highly controversial constitutional declaration that split Egypt into two polarised factions.
The market dropped some 600 points since 22 November.
- The not-so-glamourous side of the Western expat's life in Dubai
- The best way to ask for a raise or a promotion...and, God forbid, handle a 'no'
- Syria's children search for livelihood amidst Lebanon's graves
- Arab Thought Foundation's strategy to create 80 million jobs in the Middle East
- Let's just say nshallah! Egypt's back in business, says new survey