Saudi Stocks Follow Emerging Markets to Send Gulf Index Lower
- Tadawul resumes trading after week-long religious holiday
- Emerging-market shares dropped amid U.S. rates speculation
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Saudi Arabian stocks declined the most in the Gulf as the kingdom’s equities traded for the first time in a week, tracking a selloff across developing nations as investors weigh the chances of a U.S. interest rate increase this year.
The Tadawul All Share Index dropped 1.9 percent on Sunday as it reopened after a week-long religious holiday. That dragged Bloomberg’s GCC 200 Index, a measure of the largest and most liquid companies in the six-nation Gulf Cooperation Council, down 0.8 percent to a more than two-month low.