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Egypt stocks drop for 3rd day on unrest

Egypt stocks drop for 3rd day on unrest

Egypt's benchmark stock index is falling for the third consecutive day, dragged down by concerns of an escalation in tension in the country over the pace of reforms and accountability of police and former regime officials.
The Egyptian Exchange's EGX30 index was off 2.52 percent by about 11:30 a.m. local time on Tuesday, building on the previous day's almost 3 percent decline. The index's year-to-date losses have now pushed past 30 percent.
Brokers say the declines center on investor fears about the continuing protests in Cairo and other Egyptian citiies, with demonstrators calling for the removal of police officers allegedly implicated in the death of nearly 900 people during the uprising that ousted former President Hosni Mubarak.


Updated : 2021-05-09 13:34 GMT+08:00