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Egypt Stocks Decline Most Since 2016 After Protests

Egyptian protests in Cairo on Sept. 20. 

Egyptian protests in Cairo on Sept. 20. 

Photographer: STR/AFP
Updated on

Egyptian stocks tumbled after anti-government protests threatened to tarnish the nation’s hard-won image as an emerging-market safe haven.

The EGX30 retreated 5.3%, the most for any single day since 2016, as every member declined, while the wider EGX100 index lost 5.7%, its biggest drop since 2012. Though the weekend demonstrations against President Abdel-Fattah El-Sisi’s government weren’t large, they occurred in cities and towns across the country, and evoked memories of the years of instability following the 2011 uprising that ousted Hosni Mubarak.