Saudi Stocks Face Rising Risks as Regional Conflict Deepens
- Equities drop 3.7% in first four trading days of October
- Oil prices remain below Saudi’s break-even price level
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The Saudi stock market is wobbling after a summer rally, with the Riyadh bourse enduring its worst fourth-quarter start in years as regional tensions soar.
The Tadawul All Share Index index slipped 3.7% in the first four trading days of October, as Israel intensified its campaign against Iran-backed Hezbollah and weighed retaliation for Tehran’s missile attacks. While the gauge spent months shrugging off simmering tensions and weak oil prices, the latest setback has wiped out its entire year-to-date gain.