Does censorship indicate political risk? Egyptian authorities ordered the closure of al Jazeera's Cairo news office, while in China comments on web portals have been turned off and search results for "Egypt" have been disabled on Sohu (SOHU) and Sina.com (SINA).
Moody's downgraded Egypt's government bonds to Ba2 from Ba1 and changed the outlook to negative from stable, pointing to "the recent significant rise in political event risk and concern that the policy response could undermine Egypt's already weak public finances." (ETF: EGPT)
Despite further deterioration in Egypt over the weekend - military jets buzzed the capital and opposition figure Mohamed ElBaradei claimed the departure of President Mubarak is "non-negotiable" - the Saudi stock market traded up 2% Sunday, perhaps portending a better than feared open for U.S. markets on Monday.