Saudi Arabian Stocks Lead Mideast Drop as Oil Slide Saps Trading
- Tadawul All Share Index on course for worst January since 2008
- Oil at $33.55 a barrel on Friday, lowest level since June 2004
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Saudi Arabian stocks led a decline across most Middle Eastern markets amid reduced trading, as investors weighed the impact of plummeting oil prices.
The Tadawul All Share Index, the region’s biggest gauge, dropped 2.2 percent, extending its retreat this month to 12 percent. About 234 million shares were exchanged, or 9 percent less than the 30-day average. Qatari stocks fell 1 percent on about half the QE Index’s average volume. Trading in Dubai also slid.