In Egypt we have reports of police stripping off their uniforms and joining protesters. Protesters also stormed police head quarters, gathered guns, set it ablaze and engaged in a firefight as they tried to sack another police station.
Nobel Peace Laureate, Mohamed ElBardei who flew in to join protesters today and has put himself forth as an alternative leader, was placed under house arrest. It seems earlier ElBaradei joined protesters earlier and was trapped inside mosque after police used water canons to trap them inside the mosque and surrounded it.
Internet and cellphone services have been suspended throughout much of Egypt. Interesting that our own government recently gave the president the power to shut down the Internet in the U.S. Speaking of the US government, it is not readily known whether Mubarak, the US's closet ally in the middle east, still enjoys the firm backing of Washington as Obama has made some remarks about the protesters needing an outlet to vent their frustrations.Right now, the White House is responding by “tweeting” on Twitter?
Mubarak's NDP political headquarters in Egypt are ablaze.Right now on live coverage you can hear very loud gunfire, it's almost as loud as artillery.
According to the Jerusalem Post, King Abdullah II of Jordan is under heavy pressure for reforms. Syria also has shut down Internet services interestingly. Mubarak is set to address protesters, but this seems a situation that is all but finished.
Unrest is spreading worldwide as we have see by recent food riots. In Spain today, the unemployment rate surged past 20%.
As they say, the market hates uncertainty, I'm uncertain whether it's reacting to GDP or the possibility of a multinational set of government overthrows, especially as protests have already made their way into Eastern Europe. I was there when there was the last huge protest in Hungary, it was scary. I wouldn't be surprised to see more Eastern European states as well as Arab and African countries join in this global festering unrest.
The market...
3C confirms
By the way, AAPL?
confirmed.
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