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Egypt Delays Reopening Stock Market

An Egyptian walks in front of a closed currency exchange in Cairo (file photo - January 31, 2011)

Egyptian authorities are again delaying the reopening of the country's stock market.

The market had been scheduled to reopen Tuesday. It is now expected to reopen on Sunday.

The stock market was closed a month ago, as weeks of protest swept President Hosni Mubarak out of office and disrupted the economy.

The last two days of trading before the closure saw a drastic 17 percent drop in stock prices.

The falling stock prices reflected investor concern about disruption to the vital tourist industry, factory production, and foreign investment that are important to the economy.

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