MIDEAST STOCKS-Saudi stocks fall amid investor concerns over Khashoggi fallout | Reuters:
Saudi Arabia’s shares plunged as much as 7 percent on Sunday as investors worried about deteriorating relations with the international community after the disappearance of Saudi journalist Jamal Khashoggi.
The index suffered its biggest intraday decline since December 2014, when oil prices were crashing, with the Gulf region’s biggest petrochemical producer, Saudi Basic Industries, tumbling as much as 7.9 percent.
By the close, the market had recovered some of its losses, ending down 3.5 percent. Saudi Arabia’s stock market is due to be reclassified by MSCI as an emerging market next year.
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