MIDEAST STOCKS-Saudi lead losses among Gulf markets on emerging market woes | Reuters:
Saudi stocks extended losses on Thursday after a more than 3 percent plunge a day earlier, leading losses among Gulf markets as investors remained concerned about turbulence in emerging markets and concerns over global trade disputes.
The Saudi index was down 0.8 percent. Saudi Basic Industries dropped 2 percent and refiner Petro Rabigh fell 4 percent as weak oil prices further dented sentiment.
The index is still up 6 percent so far this year but has lost about 7.8 percent in this quarter. Some brokers said the market was ripe for a correction after heavy selling this week.
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