Up­heaval in Egypt shakes global mar­kets

The Washington Post Sunday - - TAKING STOCK -

A vi­o­lent up­ris­ing in Egypt cap­tured the world’s at­ten­tion and rat­tled global fi­nan­cial mar­kets. U.S. stocks took a sharp hit Fri­day af­ter press­ing steadily higher for weeks. The dol­lar, gold and Trea­sury bonds all in­creased sharply as in­vestors moved to safety.

In Egypt, eco­nomic trou­bles, govern­ment cor­rup­tion and re­straints on po­lit­i­cal free­dom stoked street protests in Cairo and cities be­yond and chal­lenged the three-decade rule of Pres­i­dent Hosni Mubarak, who or­dered his govern­ment to re­sign. When the mil­i­tary was de­ployed to put down the ef­fort, in­vestors grew un­nerved.

PHOTO BY SPENCER PLATT/GETTY IM­AGES

Traders on the floor of the New York Stock Ex­change watch the un­rest in Egypt un­fold­ing on TV. The Dow Jones in­dus­trial av­er­age fell 166.13 points Fri­day to close at 11,823.70.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.