Plunges of Egyptian Stock Market Opens
The Egyptian stock market plunged 5% in the opening minute Wednesday, triggering circuit breakers as the exchange opened for the first time in nearly two months.
Traders had predicted a “bloodbath”. “Then the stock market will close”. The circuit breaker stops trading for 30 minutes. Outside the stock market, the orderly palm-lined street was mostly empty, with the exception of soldiers and armored personnel carriers. Security has been increased since some protesters demanded on Tuesday that the exchange not reopen.
The markets have been closed since January 27 On Saturday, Egyptian voters overwhelmingly approved proposed constitional amendments that pave the way for parliamentary elections in June.
The proposed amendments included limiting the president to two four year terms, capping emergency laws to six months unless they are extended by public referendum, and placing elections under judicial oversight.

Al Rajhi Bank, the kingdom’s largest publicly traded lender by market value, dropped 5.2 % and Saudi Basic Industries Corp., the world’s largest petrochemicals maker, tumbled to the lowest since October. The measure has lost 11% since Tunisia’s former president Zine El Abidine Ben Ali fled the country amid protests that spurred similar uprising in nations across the region. Oman’s measure decreased 2.8% as protests erupted in the sultanate.