Sunday, November 25, 2012

Mursi power grab strains stability amid protests

Egypt's stock market plunged on Sunday in its first day open since Islamist President Mohamed Mursi's seizure of new powers set off street violence and a political crisis, unraveling efforts to restore stability after last year's revolution.

More than 500 people have been injured in protests since Friday, when Egyptians awoke to news Mursi had issued a decree temporarily widening his powers and shielding his decisions from judicial review.

Mursi and the judiciary hinted at compromise to avert a full-scale political crisis.