MIDEAST STOCKS-Saudi sinks after oil's plunge, Egypt also soft | Reuters:
"Saudi Arabia's stock market dropped sharply in early trade on Wednesday after oil prices plunged again, while Egypt's bourse was also weak, tracking global emerging markets.
The main Saudi equity index fell 2.7 percent and all sectors were negative. Al Rajhi Bank, down 4.2 percent, was the main drag and another large lender, National Commercial Bank fell 1.9 percent.
Rating agency Fitch on Monday revised its outlook on both banks' ratings to negative from stable, following a similar revision for the sovereign's outlook last month, which was due to low oil prices."
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