CAIRO: The current drop in Egypt's stock market cannot be attributed only to the U.S. debt crisis, said Mohamed al-Aasar, head of technical analysis at Hermis Company. Assar said what happens in the American market is a state of correcting the track. He said the main index of the U.S. stock market, Dow Jones, dropped by 50 percent after a notable rise in 2009. He added that the index will rise again after the current state of decline, which will lead recovery in the international and Arab stock markets, especially the Egyptian bourse. Assar said the current decline is the first serious drop in the American stock market since the 2008 financial crisis.
