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Egypt stock trading suspended after 6.2% drop... Now down 10%+

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posted on Jan, 27 2011 @ 04:17 AM
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Happened in about 15 minutes after the open according to tweets...

Egypt stock trading suspended after drop

CAIRO — Egypt's stock exchange said on Thursday it is suspending trading temporarily after a sharp drop, amid the largest anti-government protests in the country in three decades.

Trading will resume at 11:30 am (0930 GMT), after the suspension prompted by a drop of 6.2 percent, the bourse said in a statement, a day after the benchmark EGX 30 index fell six percent.


It's obvious it was going to happen...

That will also mean, more people bankrupt... more instability in Egypt, less jobs, less investments, more unemployment, more extremism..

Hopefully the Egyptians can win their revolution quickly so they can put their country back on track!

UPDATE : They just reopened it... and it crashed again!
Egypt stock market resumes trading, down almost 10 percent on fears of anti-government protest

Not good.
edit on 27-1-2011 by Vitchilo because: (no reason given)




posted on Jan, 27 2011 @ 04:27 AM
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The start of a pretty negative downward spiral that will only spread like a nasty contagion..

I hope this does not turn things nasty, but fear it will..

thanks for the thread



posted on Jan, 27 2011 @ 04:32 AM
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Originally posted by thoughtsfull
The start of a pretty negative downward spiral that will only spread like a nasty contagion..

I hope this does not turn things nasty, but fear it will..

thanks for the thread


The things will get worse for the better.

I hope it does, Mubarak needs to go, he needs to be hanged from my personal point view, actually get tortured just like thousands of innocent political prisoners who have been tortured over the past 3 decades, not to mention thousands who have been locked up for no reason.

He should either go to the US, or Israel, I don't think he will last in Saudi Arabia, because the Revolution will move there soon.

Already two Saudi Arabians have sacrificed their lives like the Tunisian young man who made the first move.

The days of puppet colonialism are over.



posted on Jan, 27 2011 @ 04:41 AM
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reply to post by reatarded
 


I understand your point of view, and agree to a point.. the problem is that this is a contagion... and is something I personally have expected..

The problems is the lines this crosses.. the reality of the situation is that a leader/their elite are better off facing an external enemy, than an angry population..

And this contagion will spread, and in spreading I feel the elite/TPTB/Establishment or whatever you want to call them will face a choice, follow through with an external war, or allow themselves to risk ending up being at the sharp end of a mob.

It would be nice to think that we, as humans can break through the barrier into a better world.. but I can't see the elite allowing that to happen..



posted on Jan, 27 2011 @ 04:50 AM
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reply to post by thoughtsfull
 


The Elite are no more human than the rest of the population. Please don't give them a special status.

They are also human beings, the soldiers the control are also human beings, the Police force, and the riot police are also human beings. They all have families, in the end, once the army and the police are injected with emotions, then you will see their human side.

    The individual setting themselves on fire for protest are to bring about the emotional side of the people, the Police force, and the Army force. At the moment the people have come back to humanity from Slavery, next I suspect the Police force (like Tunisia) and after that the Army.


I don't know what you mean by you comment "facing an external enemy". I suspect you mean Egypt will advise the Zionists or US to attack Egypt, that way the puppet regime will be intact because the Egyptians have to unite to fight an external enemy and allow the fascist dictatorship to continue. Other than that, I don't know what you mean. If I have interpreted your comment wrongly, please don't hesitate to correct me.


edit on 27-1-2011 by reatarded because: (no reason given)



posted on Jan, 27 2011 @ 05:47 AM
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reply to post by reatarded
 


Yes that was roughtly what I meant, but on a wider/larger scale since this contagion will impact most of the world and strip a lot of the elites from round the world of their power..

Having looked at history I don't neglect the fact those in power/hold control are human and their responses are based on human emotions.. and fear plays a big part in my premise.

My interpretation of the response from the elite is based on their fear as to what "might" happen to them at the hands of a very angry public. (there are enough revolutions/rebellions/uprising to demonstrate how those things "can" go for the elite, hung, shot, chopped heads)

This is a contagion (In my book a contagion can be good).. and too varying degrees this contagion is gripping most nations around the globe.. it isn't just Egypt or Tunisia.. however a contagion needs to start somewhere with a patient zero.

As with all things everyone watches what happens, and with success comes confidence, and confidence change can come through action spreads fast.. and that is a good thing.. and this current movement is very confident (for good reasons)

However, moving back to my premise of what is good for the general public is not always good for the elite is the idea that in this situation a deposed elite suffer more at the hands of their own general public than at the hands of an external enemy even if they lose. (plenty of examples of that happening)

Right now, I fear those nations on the edge of this, or those nations that fear this wave will turn against them the preferable option is to turn this into a war, thus unifying their nation in response to this contagion.



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