Mideast Stocks, Aramco Sink on Twin Threat From Tariffs, Oil
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Main equity benchmarks in Middle East countries including Saudi Arabia sank the most since 2020 on Sunday as investors reacted to the risks of a fresh global trade war and depressed oil prices.
Stocks on the kingdom’s main exchange fell as much as 6.1%, while gauges in Qatar and Kuwait dropped more than 5.5%. Equities in Tel Aviv dropped the most since October 2023, when Hamas launched the deadly attack on Israel that sparked the start of the war in Gaza. All four stock markets were closed on Friday.