Egypt market slides Thursday morning

Violent clashes at the presidential palace Wednesday sent the stock market on a downward spiral in early trading Thursday Egypt stocks tumbled Thursday morning in the aftermath of violent clashes between pro and anti-Morsi supporters that left at least five dead and some 500 injured Wednesday night. The main EGX30 index slid 4.3 per cent to sit at 4,854 points 45 minutes into the session. The broader EGX70 also dropped, by three per cent. Political turbulence has taken its toll on the exchange since 22 November when President Mohamed Morsi issued a highly controversial constitutional declaration that split Egypt into two polarised factions. The market dropped some 600 points since 22 November. From Ahramonline