Israel and Middle East Stocks News: - Bloomberg:
Israeli stocks fell the most in the Middle East as the country confirmed a coronavirus case and moved to contain its spread.
The main gauge in Tel Aviv retreated as much as 2.7% on Sunday, while those in Saudi Arabia, Dubai, Kuwait, Qatar and Egypt also fell. Israeli equities are highly correlated to moves in the U.S., where stocks sank on Friday.
Last week, emerging-market currencies had their worst five days since August and stocks fell on mounting evidence that the virus is taking a toll on corporate earnings and the global economy. Brent crude declined 1.4% on Friday to $58.50 a barrel, extending its loss this year to 11% as the outbreak cripples China’s industrial activity and transportation at a time when energy supplies already were abundant.
Israeli stocks fell the most in the Middle East as the country confirmed a coronavirus case and moved to contain its spread.
The main gauge in Tel Aviv retreated as much as 2.7% on Sunday, while those in Saudi Arabia, Dubai, Kuwait, Qatar and Egypt also fell. Israeli equities are highly correlated to moves in the U.S., where stocks sank on Friday.
Last week, emerging-market currencies had their worst five days since August and stocks fell on mounting evidence that the virus is taking a toll on corporate earnings and the global economy. Brent crude declined 1.4% on Friday to $58.50 a barrel, extending its loss this year to 11% as the outbreak cripples China’s industrial activity and transportation at a time when energy supplies already were abundant.
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