Political fears cause Egyptian stock market tumble

Political fears cause Egyptian stock market tumble

POSTED: Monday, November 26, 2012 - 11:00am

UPDATED: Monday, November 26, 2012 - 11:04am

Growing political fears in Egypt are taking a toll on the country's financial markets. Cairo's stock market plunged 4% immediately after opening monday.

The downslide continued through the morning trading session with the market down more than 7% by mid-day. Traders are nervous that a move by newly elected President Mohammed Morsi to consolidate his power may trigger a second revolution in the country.

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