Alexa

World markets sink as protests escalate in Egypt

 Trader David O'Day talks on his mobile phone as he works on the floor of the New York Stock Exchange Friday, Jan. 28, 2011. (AP Photo/Richard Drew)
 Trader James Coffey, right, works on the floor of the New York Stock Exchange Friday, Jan. 28, 2011. (AP Photo/Richard Drew)
 Specialist Peter Giacchi, right, calls out prices before the opening of trading in the IPO of Florida's Bank United, on the floor of the New York Sto...

Wall Street

Trader David O'Day talks on his mobile phone as he works on the floor of the New York Stock Exchange Friday, Jan. 28, 2011. (AP Photo/Richard Drew)

Wall Street

Trader James Coffey, right, works on the floor of the New York Stock Exchange Friday, Jan. 28, 2011. (AP Photo/Richard Drew)

Wall Street Bank United

Specialist Peter Giacchi, right, calls out prices before the opening of trading in the IPO of Florida's Bank United, on the floor of the New York Sto...

Escalating protests in Egypt are jarring world financial markets. Stocks fell while the dollar and Treasurys rose as investors sought to reduce their exposure to risk.
The Egyptian government's response to escalating street protests unnerved investors. The military was deployed in an effort to quell the largest challenge to Egyptian president Hosni Mubarak's 30-year rule. The fall of the Tunisian government two weeks ago caused worries that other Middle Eastern governments could also be toppled.
Disappointing earnings reports also helped send stocks lower. The Dow Jones industrial average had its first down week after an eight-week winning streak.
The Dow fell 166 points, or 1.4 percent, to close at 11,823.
The S&P 500 fell 23, or 1.8 percent, to 1,276. The Nasdaq composite fell 68, or 2.5 percent, to 2,686.


Updated : 2021-03-03 13:52 GMT+08:00