Reported 1 day ago
Middle Eastern stock markets, including those in Saudi Arabia, saw their most significant declines since 2020, driven by fears of a new global trade war and falling oil prices. The stock exchange in Saudi Arabia dropped by up to 6.1%, while major companies like Saudi Aramco suffered massive market capitalization losses. The downturn follows the latest US tariffs and retaliatory actions from China, prompting concerns about economic growth and regional finances, particularly as lower oil prices threaten economic diversification strategies in the region.
Source: YAHOO