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Egypt's stocks tumble as protests continue
Egypt's president-elect, the Islamist Mohamed Morsi, tries to earn points as a moderate by picking a Christian and a woman to serve as vice presidents.
Egypt's president-elect, the Islamist Mohamed Morsi, tries to earn points as a moderate by picking a Christian and a woman to serve as vice presidents.
REUTERS/Middle East News Agency
E

gypt's stock market plunged nearly 10 percent Sunday as Cairo's violent protests against President Mohamed Morsi's power grab dragged into a third day. The losses on the Egyptian exchange are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Hosni Mubarak last year. Earlier this week, Morsi declared that his decisions cannot be appealed by courts or any other authority. He also barred the judiciary from dissolving the upper house of parliament and an assembly drafting a new constitution — both groups are dominated by Morsi's supporters, the Muslim Brotherhood. Morsi's supporters planned to demonstrate on Sunday and again on Tuesday, when Morsi's opponents also plan to protest, increasing fears of further violence.

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