Egyptian stock market tumbles 4.6 pct on protests

Bloomberg, By The Associated Press, Jan 26, 2011

CAIRO (AP) — Egypt's stock market has tumbled over 4 percent a day after massive anti-government protests engulfed the capital and other cities, leaving three people dead.

The benchmark EGX30 index was down 4.63 percent, to 6,411.94 points by 10:45 a.m. local time Tuesday. Its year-to-date losses stand so far at over 10 percent.

The tumble came a day after tens of thousands of Egyptians took to the streets, clashing with police, in a protest modeled after the uprising in Tunisia that led to the toppling of that North African nation's longtime leader.

Egyptians have grown increasingly frustrated with President Hosni Mubarak's 30-year rule, arguing that economic gains have failed to trickle down and that the government has done little to address crippling poverty