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BREAKING NEWS

TASE drops on Egyptian demonstrations

By MIRA AWWAD/ GLOBES

JANUARY 30, 2011 14:54

The Tel Aviv Stock Exchange (TASE) fell sharply at the opening Sunday, in response to the worsening demonstrations in Egypt, even as Egyptain President Hosni Mubarak fired his cabinet and appointed a vice president.

Geopolitical shocks, especially in the Middle East, tend to unsettle markets. Investors were afraid that the riots in Egypt would spread to other Arab countries, such as Saudi Arabia, one of the world's largest oil exporters.

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