Wednesday, 9 May 2012

STOCKS NEWS MIDEAST-Saudi makes biggest drop in 3 wks on global woes - Yahoo! News UK

Saudi Arabia's bourse makes its largest decline in three weeks as the euro zone debt crisis spooks the kingdom's
investors, with small-cap stocks the worst hit.
Saudi's main index tumbles 2 percent to close at 7,222 points, its biggest one-day loss since April 15 to trim
year-to-date gains to 12.5 percent.
"The Saudi market correction is driven by sentiment ... globally markets are seeing a bloodbath," says Tariq Alalaiwat, equity research analyst at NCB Capital.

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