Saudi Shares Reach Four-Month Low as U.S. Economic Growth Misses Forecasts - Bloomberg

Saudi Arabian shares dropped to the lowest level since March after U.S. economic growth missed economists’ forecasts and Moody’s Investors Service said it may cut Spain’s credit rating.

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, reached its lowest price in almost five weeks. Etihad Etisalat Co. (EEC) and Al Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by market value, declined.

The 147-company Tadawul All Share Index (SASEIDX) slid 1.5 percent to 6,345.95, the lowest level since March 23, by 12:16 p.m. in Riyadh. All 15 industry groups dropped.

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