Tuesday 18 August 2015

MIDEAST STOCKS-Markets sell off after China hits oil; Saudis down 2.9 pct | Reuters

MIDEAST STOCKS-Markets sell off after China hits oil; Saudis down 2.9 pct | Reuters:



"Major Middle East stock markets
plunged on Tuesday after tumbling Chinese equities put pressure
on global oil and commodity prices.



Chinese stocks fell more than 6 percent on Tuesday as the
yuan weakened against the dollar, raising fears that Beijing may
further devalue its currency. That could decrease China's
consumption and imports.



Saudi Arabia's main stock index fell 2.9 percent to
a seven-month closing low of 8,197 points."



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