Over 400 Egyptian protesters arrested

<p>Egyptians security officials have arrested over 400 people, as hundreds gathered in Cairo and other cities to protest government corruption.</p> <p>The protesters, defying a government ban on protests, called on President Abdel Fattah al-Sisi to step down.</p> <p>Reuters notes that witnesses saw plainclothes security officials were seen stopping people in central Cairo and checking social media content on their mobiles phones.</p> <p>Economists have noted that the political instability in Egypt has contributed to sharp losses in the stock market. The EGX 30 and EGX 100 both fell by more than 5%, their biggest single-day drops in several years.</p> <p>Reuters further states that these losses began to ease on Monday, with the EGX 100 falling 0.19% by 09:50 GMT, though Egyptian dollar bonds issued by the government and the Egyptian pound in forwarding markets both slipped.</p> <p>Senior Middle East and North Africa economist for Goldman Sachs, Farouk Soussa, told Reuters:&nbsp;</p> <blockquote><p> The events over the weekend would “give cause for investors to reprice near-term political risks in Egypt […] We think that the impact in external and domestic bond markets in the coming day or two may be more acute, given the high participation of international investors in these markets.” </p></blockquote> <p>Read more <a href="https://uk.reuters.com/article/uk-egypt-politics/egyptian-authorities-r…">here</a>.</p>