Business Management

Clashes between supporters of Egyptian President Hosni Mubarak and his opponents shook the United States stock market on Wednesday (02/02/2011) local time. The reason, traders worried about the increasing instability in the region.

“Those who are optimistic about Egypt and the risk of transmission should rethink their position,” said David kotok of Cumberland Advisors.

“We are seeing signs of infection in Jordan, Yemen and other countries,” he added.

Index of blue-chip Dow stocks rose very slightly, rising 0.02 percent (1.81 points) to 12,041.97 at menutupan, ended Tuesday setelahpada above 12,000 points for the first time since June 2008. But the broader S & P 500 fell 0.27 percent wider (3.56 points) to 1304.03 and the Nasdaq technology index fell 0.04 percent (1.03 points) to 2750.16.

Television describe and report on the bloody clashes in the capital city of Egypt, causing traders to review their initial reaction to curb unrest in the Middle East. “We expect more violence,” said kotok.

“We do not know how this will change. We have no estimate eventually spread .. We do not know how much economic damage that will be witnessed in global markets and a new start with the global economic recovery,” he added.

Egypt’s Suez Canal where the vital and strategic in the center of the oil-rich Middle East.

Unrest in Egypt overshadowed positive data released Wednesday morning that showed a private company in the United States added 187,000 jobs in January, starting this year with an increase in major industries.

Meanwhile, airline stocks battered in the last round of bad weather in the United States, which has resulted in thousands of flights canceled.

Delta Air Lines fell 3.7 percent and American Airlines fell 2.1 percent.

Ford, which has factories in areas badly affected, showing the price of its shares fell three percent, helped by the analyst lowered earnings estimates that car manufacturers.

The bond market fell, with the yield on 10-year Treasuries rose to 3.49 percent from 3.44 percent on Tuesday, while 30-year bond rose to 4.64 percent from 4.61 percent.

Prices and bond yields move in opposite directions.

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