Saudi Stocks Sink as Tension With U.S. Escalates Over Khashoggi
- Tadawul’s main index retreats to lowest level since January
- Kingdom says it will retaliate against any punitive measures
This article is for subscribers only.
Saudi Arabian equities slumped on concern the nation’s relationship with the U.S. may sour over the disappearance of Washington Post columnist Jamal Khashoggi.
The Tadawul All Share Index sank as much as 7 percent, the most since 2016 on a closing basis, before trimming its decline to 3.5 percent at the close. All but seven of the gauge’s 186 members fell, led by Saudi Telecom Co. and Jabal Omar Development Co. The number of shares exchanged was more than double the 30-day average.