Egyptian drivers wait in long lines outside a gas station in Cairo on June 26. Along with a stuttering economy, traffic-clogging street protests and a crime wave, fuel shortages have come to symbolize the disorder of the post-Mubarak Egypt.
The spotlight on Egypt has focused on the the political fallout from the military coup that toppled an elected but deeply unpopular government. But if you think Egypt's politics are a mess, just consider the economy.
Tourism, a major revenue generator, has been hurting since the Arab uprisings of 2011 that toppled Hosni Mubarak. Foreign investment has shriveled. Unemployment in many industries has soared. Inflation has risen, making everyday goods more expensive. And there's a black market in currency and fuel.
Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.
Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.
A view of the New Century Global Center in Chengdu, China. The structure — located in a suburb of Chengdu, in southwest China's Sichuan province — is home to an indoor beach and a faux Mediterranean village.
Credit Barcroft Media/Landov
A view of a section of the Paradise Island Water Park, which features an artificial beach, in the New Century Global Center in Chengdu, China.