Sunday: Mideast Stocks Suffer Worst Rout Since 2020 on Oil, Tariff Shock

[BLMFem]

Mideast Stocks Suffer Worst Rout Since 2020 on Oil, Tariff Shock

 

Main equity benchmarks in Middle East countries including Saudi Arabia sank the most since 2020 on Sunday as investors reacted to the dual threats of a global trade war and depressed oil prices.
Stocks on the kingdom’s main exchange fell as much as 6.1%, while gauges in Qatar and Kuwait dropped more than 5.5%. Saudi Aramco — the world’s biggest oil exporter — was a leading laggard, erasing more than $90 billion from its market capitalization after oil plunged. All three stock markets were closed on Friday.