Egyptian stocks posted their biggest drop in seven months and the pound dipped to its weakest against the dollar in almost six years on Monday as investors grew concerned that political turmoil in Tunisia could spread to Egypt.
Traders had been awaiting the reaction of foreign investors to events in Tunisia when European markets opened on Monday. Egypt's weekend is Friday and Saturday and its currency market and stock exchange had been relatively subdued on Sunday.
An Egyptian man set himself alight near parliament on Monday morning in an apparent protest against poor living standards, a witness and officials said, echoing a self-immolation that spurred the wave of demonstrations in Tunisia.
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