Egypt protests worry US investors


The Dow Jones industrial average fell 166 points to close on Friday at 11,823

Escalating protests in Egypt caused uncertainty on Wall Street, where stocks fell while the dollar and Treasurys rose as investors sought to reduce their exposure to risk.

The Egyptian government’s response to escalating street protests unnerved investors on the New York Stock Exchange.

Egypt’s military forces were deployed in an effort to quell the largest challenge to president Hosni Mubarak’s 30-year rule. The fall of the Tunisian government two weeks ago caused worries that other Middle Eastern governments could also be toppled.

Disappointing earnings reports also helped send stocks lower.

The Dow Jones industrial average had its first weekly fall after an eight-week winning streak.

The Dow fell 166 points, or 1.4%, to close on Friday at 11,823.

The Standard & Poor’s 500 index fell 23, or 1.8%, to close at 1,276.

The Nasdaq composite index fell 68, or 2.5%, to close at 2,686.

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