Egyptian Revolution of 2011
The Egyptian stock exchange plummeted 6.25% following the beginning of the Egyptian Revolution of 2011 on 25 January.
The Egyptian Stock Exchange closed at the end of trading on the 27th January after the benchmark EGX 30 Index (EGX30) plunged 16 percent that week amid the uprising. The exchange reopened on Wednesday 23 March after being closed for almost 8 weeks. The market fell by a further 8.9% on reopening. .
Since the President Ben Ali fled neighboring Tunisia on January 15, the volatility of the EGX 30 Index has proven to be unmatched within the Arab world. Since the close of business on January 13 (7156 volume at closing), the EGX 30 Index has shed 45 percent of its volume - a drop of 3186 points, from 7156 to 3970 (December 8).
Read more about this topic: Egyptian Exchange
Famous quotes containing the words egyptian and/or revolution:
“...the Hebrew women are not like the Egyptian women; for they are vigorous and give birth before the midwife comes to them.”
—Bible: Hebrew, Exodus 1:19.
Egyptian midwives to Pharaoh.
“This I do know and can say to you: Our country is in more danger now than at any time since the Declaration of Independence. We don’t dare follow the Lindberghs, Wheelers and Nyes, casting suspicion, sowing discord around the leadership of Franklin D. Roosevelt. We don’t want revolution among ourselves.”
—Lyndon Baines Johnson (1908–1973)