UPDATE: Egypt Market Carnage Getting Worse -- Now Down 3.3%

UPDATE: The market has gotten worse as the day is wearing on. The main index is now down 3.3%.

ORIGINAL POST: Just because it’s Sunday doesn’t mean there isn’t market activity to watch.

Egypt’s main index, the EGX 30, is getting clobbered today. It’s down 2.7%.

Egyptian EGX 30 Price Return Index

chart

Photo: Bloomberg

As we’ve pointed out, Egypt has been a super-hot stock market all year, but the air has come out of that bubble in March, and this is a continuation of that ugly move.

Anyway, it’s not all ugly news today. The Tel-Aviv market is up 0.5%.

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