Saudi Arabia's benchmark slumped to a fresh 10-week low on Tuesday as investors fretted that a gloomier outlook for the global economy would lead to lower oil receipts for the world's top crude exporter.
Other Middle East markets were mixed, with investors cautious as third-quarter earnings season got under way.
The International Monetary Fund cut its growth forecasts for the second time in six months on Tuesday, warning the global economic slowdown was worsening.
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