World Markets Sink As Protests Escalate In Egypt

[Joanne98]

Source: AP

Escalating protests in Egypt jarred world financial markets Friday. Stocks fell while the dollar, Treasurys and gold 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 restore order and the headquarters of the ruling party was on fire. Thousands of people defied a curfew, and Internet and cell phone service has been cut off.

Earlier, riot police fired tear gas, rubber bullets and used water cannons to disperse crowds that had gathered in the largest challenge to Egyptian president Hosni Mubarak's thirty-year rule. Investors have been concerned that the collapse of the Tunisian government Jan. 14 could lead to challenges to other authoritarian governments in the Middle East.

"The safety trade is back," said Jeffrey Frankel, president of broker Stuart Frankel & Co. "Gold is up. Oil is up. Anything related to overseas is getting hit."



Read more: http://www.npr.org/2011/01/28/133306560/world-markets-sink-as-protests-escalate-in-egypt

[xchrom]

1. if the People get control of their governments --

they aren't going to put up with things like crony wealth and speculative food hikes.

for starters.

[SpiralHawk]

3. "More more more speculative food price hikes!" - RepubliCronies (R)

"More more more more more for us. Sneer."

- RepubliCronies (R)

[xchrom]

4. i wish i could say people who should be on our side

didn't do it as well. but i can't.

[customerserviceguy]

8. Sure, just like Iran

Meet the new boss, same as the old boss.

A brief period of instability, then same-old, same-old. If Israel doesn't decide to intervene.

[xchrom]

10. That was a ridiculously funny - um - observation.

Anti-Arab bigot much?

[customerserviceguy]

12. Your observation would be spot on

if Iran were an Arabic country.

However, you may have hit on something close to what I think. Other than Turkey, I can't think of an Islamic society that has not been run in a totalitarian way. Of course, the jury's still out on that Iraq experiment that we've poured billions of dollars and thousands of lives into. We'll see what happens there when the US withdraws.

[yurbud]

13. yep

[masmdu]

2. "As" yes but "because of" no...Technical indicators called this turn days ago

[jwirr]

5. These revolts should making outsourcers think twice. Not so secure

over there is it.

[barbiegeek]

6. Outsourcers don't go to N.. Africa or Middle East that much

South America & Asia is where they go.

[aggiesal]

7. Don't they know all they need to do is ...

have more tax cuts for the wealthy, that should create more jobs.

[bossy22]

9. not surpring

the markets never take uncertainty that well

[hatrack]

11. Heavens! Ah feel an attack of Thu Vapors approaching!!!!

(Clutching pearls, sinking onto fainting couch).