Political Unrest Drives Markets
Political contagion hit the Egyptian market as riots and fight continued to spread across the capital. The Egypt equity markets have collapsed and are closed after erasing approximately 12 billion dollars within the last 2 trading days of the week. For the fourth consecutive day of street protests, as police used tear gas, bullets and batons against demonstrators at scattered points across Egypts capital. Oil prices surged, as investors became anxious that flows of oil would be curtailed. The Euro and riskier currencies started to liquidate at the end of the week, as investors moved into the dollar and the Yen.
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