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The Associated Press January 29, 2011, 4:14AM ET

Saudi exchange tumbles on Egypt protests

Saudi Arabia's stock exchange has tumbled by over 4 percent in a decline fueled by the unrest in Egypt.

The Saudi Tadawul was down almost 4.4 percent to 6,404.3 points by about 12:45 p.m. on Saturday, the start of the work week in the kingdom.

The drop came a day after tens of thousands of Egyptians clashed with security forces, setting fire to government buildings and demanding the ouster of President Hosni Mubarak.

The protests which began on Tuesday, and were inspired by similar demonstrations in Tunisia two weeks earlier, have battered the Egyptian stock market and are expected to rattle other regional markets.


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