By Tom Perry and Yasmine Saleh, Reuters

Egypt army topples president, announces transition

Egypt's armed forces overthrew Islamist President Mohamed Morsi on Wednesday, sparking wild rejoicing in the streets at the prospect of new elections as a range of political leaders backed a new political transition.

NONEMorsi (left) was sequestered in a Republican Guard barracks after denouncing a "military coup" that stripped him of power after just a year. As tanks and troops secured the area, tens of thousands of supporters of his Muslim Brotherhood rallied nearby to protest against his removal.