Cairo , Egypt ( CNN ) -- The Egyptian stock market plunged 5 % in the opening minute Wednesday , triggering circuit breakers as the exchange opened for the first time in nearly two months . The sell-off was expected . Traders had predicted a `` bloodbath . '' `` For sure , the main index will drop 5 % in the first minute , '' said Ahmed Samir of Hurreya Brokerage ahead of the trading day , pointing to the red sales orders dominating his computer screen . `` Then the stock market will close . '' The circuit breaker stops trading for 30 minutes . Outside the stock market , the orderly palm-lined street was mostly empty , with the exception of soldiers and armored personnel carriers . Security has been increased since some protesters demanded on Tuesday that the exchange not reopen . Mohamed Abdel Salam , who is the chairman of Ministry for Clearing and Settlement , will serve as chairman of the exchange for 6 months , a government statement said this week . He said this century old building has housed the Egyptian stock market since 1903 . Never in the history of Egypt or the world , however , has he seen a stock market closed for such a long period . The markets have been closed since January 27 . A political uprising that began two days earlier resulted in the eventual overthrow of then-President Hosni Mubarak . On Saturday , Egyptian voters overwhelmingly approved proposed constitutional amendments that pave the way for parliamentary elections in June . An estimated 45 million Egyptians were eligible to vote in what was widely viewed as the country 's first free election in decades , and the poll sets the stage for parliamentary and presidential elections later this year . The proposed amendments included limiting the president to two four-year terms , capping emergency laws to six months unless they are extended by public referendum , and placing elections under judicial oversight . CNN 's Ed Payne contributed to this report .
NEW : Circuit breakers slow any large drops in the market . The Egyptian exchange closed January 27 in the midst of anti-government protests . A political uprising overthrew President Hosni Mubarak . Comment: