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Egypt stocks extend losses on political turmoil

egyptian-central-bankCAIRO: Egypt's main stock market index dropped 4 percent on Monday, extending a fall triggered by a political crisis that eroded a tenth of its value the previous day, on worries that a row over an expansion of the president's powers will bring more turmoil.

 

At 0840 GMT, just after the market opened, the benchmark index was down 3.9 percent. It is at its lowest level since July this year, shortly after President Mohamed Mursi assumed office.

 

Copyright Reuters, 2012