Dow Off 166 on Egypt Crisis

World markets fall on protests
By Newser Editors and Wire Services
Posted Jan 28, 2011 3:27 PM CST
Specialist Peter Giacchi, right, calls out prices before the opening of trading in the IPO of Florida's Bank United, on the floor of the New York Stock Exchange, Friday, Jan. 28, 2011.    (Richard Drew)
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(Newser) – Escalating protests in Egypt are jarring world financial markets. Stocks fell while the dollar and Treasurys rose as investors sought to reduce their exposure to risk. Disappointing earnings reports also helped send stocks lower. The Dow Jones industrial average had its first down week after an eight-week winning streak. The Dow fell 166 points, or 1.4%, to close at 11,824. The S&P 500 fell 23, or 1.8%, to 1,276. The Nasdaq composite fell 68, or 2.5%, to 2,687.

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