President Hosni Mubarak announced just now that he is giving power to Vice President Omar Suleiman and that he intends to stay on as president until elections are held in September. NBC News had expected him to hand over power -- and to leave. That second part didn't happen. From a rough log of Egyptian President Mubarak's speech:
By confirming the needs of the people, and by putting Egypt first, I will dissolve the upper levels of government effective immediately, and hand my power over to my vice president. This is a major moment of change.
In one way, that's the headline -- President Mubarak gives power to Vice President Suleiman, says he's staying on.
But that's not the headline among the protesters. As Mr. Mubarak made his announcement, reports Al Jazeera, what had been celebratory scenes in Cairo and Tahrir turned into scenes of absolute rage. "A lot of the people here are losing faith day by day with the army," the correspondent in Alexandria says. He reports that the crowd behind him has headed off into the streets to demand that the military take steps to remove Mr. Mubarak. NBC's Richard Engel says protesters in Cairo will march on the presidential palace.