Stock market lands in the red amid Egyptian selling and new US tariffs

The US has now increased tariffs on Egyptian goods by 10 percent.

Benchmark index EGX 30 fell by 3.34 percent to end the session with 30,639.52 points.

The Shariah index dropped by 3.75 percent to reach 3,198.49 points.

EGX 70 dove into the red by 4.84 percent to close with 8,649.18 points, followed by EGX 100’s plunge of 4.58 percent to end the session with 11,941.06 points.

Sunday trading saw 1.297 billion shares exchanged with a turnover of LE 3.565 billion.

Market capitalization was recorded at LE 2.1673 trillion.