Egypt index plunges amid unrest, trading suspended
Tumble is the biggest since 2008
Cairo/Dubai: Egypt's main index suffered the second-biggest one-day fall in its history yesterday, as anti-government protests shook the confidence in one of the region's best-performing economies.
The index tumbled 10.5 per cent, its biggest drop since October 7, 2008 when the benchmark fell 16.5 per cent due to the deepening global economic crisis.
Trading on the exchange was briefly suspended after the index slumped 6.2 per cent. More sellers appeared when the markets reopened, quickly extending its declines. The index tumbled 6.1 per cent on Wednesday.
Several major stocks were suspended again after the reopening, as they breached stock exchange limits. Activists trying to oust Egyptian President Hosni Mubarak extended their protests into a third day.
