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Posted at 12:12 PM ET, 02/11/2011

Mubarak resignation lifts U.S. stocks

By Sarah Halzack

The news Egyptian President Hosni Mubarak stepped down and relinquished power to the nation's military was met with a favorable reaction from Wall Street. The Dow, NASDAQ and S&P 500 all saw modest gains.

Just 10 days ago, the unrest is Egypt was having a negative effect on global markets: Oil prices spiked, food prices rose and stocks declined.

Egypt's own stock market has suffered as a result of the turmoil. On Jan. 27, its benchmark stock index took a 10 percent dive, its second-largest one-day drop on record.

By Sarah Halzack  | February 11, 2011; 12:12 PM ET
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