Almost 10 per cent decline at the Egypt's benchmark EGX30 stock exchange on Wednesday made authorities to halt trading on the exchange that faced heat due to political trouble and uncertainties in the country.

The EGX 30 tumbled 8.9 percent as the Egyptian Exchange opened yesterday with four biggest Cairo-traded stocks, including EFG-Hermes Holding SAE and Commercial International Bank Egypt SAE (COMI) faced significant valuation erosion.

The revolt that toppled Hosni Mubarak’s 30-year-old regime proved tough for Egypt’s economy as tourists and investors turned away their faces. Mark Krombas, who helps oversee about $3.5 billion as a money manager at Charlemagne Capital in London expressed that the country is at the brink of larger risks and things may prove more detrimental than expected.

Orascom Telecom Holding SAE saw a decline of 2 .8 percent yesterday after rising as much as 7.7 percent during the earlier trading. Naguib Sawiris, the chairman of Orascom Telecom said, “Once the dust settles people will appreciate that the current prices in Egypt are quite low and you will see a buying spree that will bring the market to stability.”