Saudi Stocks Plunge as Mideast Markets Retreat Amid Oil Slump - Bloomberg Business:
"Saudi Arabian stocks led a retreat among Middle East equity markets as Brent crude dropped below $28 per barrel for the second day this week.
The Tadawul All Share Index fell 4.5 percent, headed for the lowest since March 2011 on a closing basis, as Saudi authorities were said to have ordered local banks to stop offering options contracts that allow speculators to take bets on a devaluation of the riyal. Dubai’s DFM General Index tumbled 4.6 percent to the weakest close since September 2013. The Bloomberg GCC 200 Index, which tracks the region’s largest companies, was poised for the lowest level since 2011."
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