Egypt Stocks Decline Most Since 2016 After Protests
Egyptian protests in Cairo on Sept. 20.
Photographer: STR/AFPThis article is for subscribers only.
Egyptian stocks tumbled after anti-government protests threatened to tarnish the nation’s hard-won image as an emerging-market safe haven.
The EGX30 retreated 5.3%, the most for any single day since 2016, as every member declined, while the wider EGX100 index lost 5.7%, its biggest drop since 2012. Though the weekend demonstrations against President Abdel-Fattah El-Sisi’s government weren’t large, they occurred in cities and towns across the country, and evoked memories of the years of instability following the 2011 uprising that ousted Hosni Mubarak.