The protests over authoritarian rule in Egypt, which have turned violent in recent days, were blamed for the steep declines in stock prices on Friday. Although there may have been other factors at work, it was concern that the government instability in Egypt would spread throughout the region that was primarily responsible for the drop in stock prices as well as the increase in bond and gold prices.
The protests have grown significantly in numbers over the past four days as reports now put the number of people in the streets in the tens of thousands. The throng is vehemently voicing their objections to thirty years of Hosni Mubarak’s rule as well as the government’s inability to stave off massive increases in food and energy prices.
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