Saudi Arabian shares plunged to the lowest level since March after data from the U.S., India and China fueled concern that global economic growth is slowing.
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, and Al Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by market value, led the decline. National Industrialization Co. (NIC) fell for a fourth straight day.
The 146-member Tadawul All Share Index (SASEIDX) fell 1.2 percent to 6,463.38 at 2:21 p.m. in Riyadh, the lowest since March 26, bringing its three-day retreat to 2.9 percent. All 15 industry groups tumbled.
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