Demonstrators deface a poster of Egyptian President Hosni Mubarak in Alexandria, Egypt on Tuesday, Jan. 25.
Clinton called on Friday for the Egyptian government to lift restrictions on the Internet, and asked that authorities allow the Egyptian people to voice their opinions. "We urge the Egyptian authorities to allow peaceful protests and to reverse the unprecedented steps it has taken to cut off communication," she said. "These protests underscore that there are deep grievances within Egyptian society, and the Egyptian government needs to understand that violence will not make these grievances go away." Mubarak has not been seen publicly or heard from since the protests broke out on Tuesday. He has not yet said whether he will stand for another six-year term as president in elections this year. However, he has not shown any concessions to the protesters who are asking for political reform. The demonstrations are backed by the Islamic fundamentalist Muslim Brotherhood, which is the country's largest opposition group, and Egypt's pro-democracy leader, Nobel Peace laureate Mohamed ElBaradei. The Egyptian protests may have been fueled to some extent by demonstrations in Tunisia earlier this month, as some of the protesters have been waving Tunisian flags. -- Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.
In trading on Monday, shares of the Egypt Index ETF entered into oversold territory, changing hands as low as $60.63 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.