Egypt stocks plunge after unrest

Egypt’s stock market plunged yesterday in its first day open since President Mohamed Mursi’s seizure of new powers set off violence and a political crisis, unravelling efforts towards stability after last year’s revolution. More than 500 people have been injured in protests since Friday, when Egyptians awoke to news Mursi had issued a decree widening his powers. Yesterday’s stock market fall of nearly 10 per cent was the worst since the uprising that toppled Hosni Mubarak in February 2011.