Hosni Mubarak stood down as president of Egypt, today February 11 2011 circa 1920 GMT, after 30 years in power. The military has taken over control of the country amidst wild celebrations from protesters who have been stationed in Cairo's Tahrir Square for the past 18 days.
Global stocks rose and oil dropped after the announcement.
The crisis was sparked off by a revolt in Tunis which saw Tunisian President Zine El Abidine Ben Ali flee to Saudi Arabia on Jan14, with the revolutionary spirit rippling further through a region that holds more than 50 percent of the world’s oil reserves.
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