Saudi stock market plunges 6.78% in biggest daily drop in 5 years on US trade tariff fears

The Saudi stock market witnessed a significant downturn on Sunday, with its biggest one-day decline in five years, plummeting by 6.78%. This sharp drop was a result

The Saudi stock market witnessed a significant downturn on Sunday, with its biggest one-day decline in five years, plummeting by 6.78%. This sharp drop was a result of the new US trade tariffs, causing a ripple effect in global markets and sparking concerns about a potential trade war. Notable sectors and companies, such as Aramco, were particularly hard hit, contributing to an overall market value loss of more than half a trillion riyals. This development has raised anxieties among investors and analysts about the future stability of the Saudi stock market in the face of escalating trade tensions.