(UPDATED) Egyptian President Mubarak <s>Refuses to Step Down</s> Resigns

Although most media outlets claimed Egyptian President Hosni Mubarak would resign today amid increasing pressure from citizens, that wasn't the case. This afternoon, he "announced he has handed his powers over to his vice president but he refused to step down outright or leave the country, retaining his title of president and ensuring regime control over the reform process." Uh oh. Expect outrage to increase within the next few days. UPDATE: He resigned. [Chron]