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The Egyptian stock market will likely tumble another 10 percent before investors put some cash in and try to stage a rally, after which the benchmark index could regain a third of its losses, according to historical trends, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
Some accuse the Mubarak government of deliberately fanning class tensions to create demands for the restoration of its brutal security state. But such resentments have built up here for nearly a decade. The NYT reports.
Risks that the troubles in Egypt may spread have increased and the uprisings have a negative effect on growth, as well as contributing to higher prices, economist Nouriel Roubini said.
European shares were set to fall on Monday as concerns grew the Egyptian anti-government protests could spark instability elsewhere in the Middle East.
Egypt's leadership uncertainty is bringing another major economic story — global food inflation — to the fore as a key geopolitical event.
The U.S. dollar is finding a firmer footing in a flight-to-safety play and may do so as long as Egypt remains in turmoil. The path after that, however, is less clear.
Unrest in Egypt has replaced Europe's debt crisis as a flash point for markets, and any unfolding developments there will no doubt affect trading in the week ahead.
Stocks closed near session lows as civil unrest in Egypt sparked widespread selling that pushed the S&P 500 down nearly 2 percent and broke an eight-week winning streak for the Dow. Microsoft and Home Depot sank.
One of the odder things that has come to my attention today is that back in February 2009, Gamal Mubarak (the son of soon to be former Egyptian leader Hosi Mubarak) met with a US Senator and gave his advice on how to address our financial crisis.
As we know, massive popular unrest has broken out against autocratic governments in North Africa and the Arab world. Egypt is the biggest story. But to varying degrees, the people have taken to the streets in Algeria, Jordan, Libya, Morocco, and Yemen.
Today, silver has been a better safe haven trade than gold. There's the same shape to the chart. But at 3 percent, the gain is twice that of gold.
Plus, get calls on the Nasdaq’s pullback, Ford’s earnings and more.
Technology is the classic two-edged sword. In its broadest sense—as the knowledge or mechanism of achieving a result—technology is agnostic of its ends.
Like the European debt crisis in 2010, the uprising in Egypt and other Middle East nations in recent weeks has raised the fear among investors that the markets could be in big danger if the crisis spreads.
Unrest in Egypt putting the fear factor back into the gold trade—at least for today.
Currency and commodities trader Dennis Gartman addresses how the Egyptian protests may impact oil, and how to trade it.
Has the unrest in Egypt triggered trading opportunities in energy and other sectors?
Oil prices are now reflecting concern about uprisings in Egypt, after ignoring the unrest earlier in the week. Crude was up more than 4 percent at midday.
The Egyptian military entered the streets of Cairo amid protests, but the World Economic Forum kept its focus on the big economies.
Egypt's benchmark index recorded its biggest drop in over two years Thursday, plummeting more than 10 percent as anti-government protests rattled investor confidence and left Hosni Mubarak's regime facing its most serious challenge in years.