World Markets Sink As Protests Escalate in Egypt

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New York, NY (AP) - Escalating protests in Egypt are jarring world
financial markets. Stocks fell while the dollar and Treasurys rose
as investors sought to reduce their exposure to risk.

The Egyptian government's response to escalating street protests
unnerved investors. The military was deployed in an effort to quell
the largest challenge to Egyptian president Hosni Mubarak's 30-year
rule. The fall of the Tunisian government two weeks ago caused
worries that other Middle Eastern governments could also be
toppled.

Disappointing earnings reports also helped send stocks lower.
The Dow Jones industrial average had its first down week after an
eight-week winning streak.

The Dow fell 166 points, or 1.4 percent, to close at 11,823.

The S&P 500 fell 23, or 1.8 percent, to 1,276. The Nasdaq
composite fell 68, or 2.5 percent, to 2,686.

(Copyright 2011 by The Associated Press. All Rights Reserved.)



 
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