Gulf markets hit by fear of more turmoil - FT.com

Gulf markets hit by fear of more turmoil - FT.com:



"Gulf stock markets have plunged after digesting last week’s global turmoil, and futures indicate another foul day ahead for investors as bourses reopen after the weekend respite.



Arab equity markets are for the most part open only on Sunday to Thursday to reflect the Muslim week, and were spared the carnage that capped last week’s global stock rout. But they reopened again on Sunday with a bang, with all major bourses declining sharply.



Saudi Arabia’s Tadawul, the biggest and most actively traded in the Middle East, slid 6.9 per cent to the lowest since the nadir touched in the first round of the oil price crash last December. The Dubai Financial Market slumped 7 per cent, and the Kuwaiti stock market dipped to its lowest since December 2012."



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