MIDEAST STOCKS-Gulf markets sink to multi-year lows, Egypt plunges over 5 pct | Reuters:
"Middle East bourses fell sharply on Thursday as investors cashed out after Brent crude oil slipped below $30 a barrel and global markets resumed selling off.
The Saudi index tumbled 3.3 percent to close at 5,838 points, its lowest finish since March 2011, after a heavy wave of sales in the final hour of trade.
Traders said margin calls added to the pressure, especially in smaller-capital stocks favoured by local speculators. Most insurance stocks, which are generally illiquid and therefore harder to exit, nosedived more than 6.0 percent."
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