Saudi stock market plunges 6.78% in biggest drop in 5 years, US trade tariffs spark global market fears
The Saudi stock market faced a significant setback on Sunday as it witnessed its most substantial daily decline in five years, plunging by 6.78%. The sharp drop was
The Saudi stock market faced a significant setback on Sunday as it witnessed its most substantial daily decline in five years, plunging by 6.78%. The sharp drop was attributed to the impact of the latest US trade tariffs, causing a ripple effect across global markets and raising concerns about a potential trade war. Notable sectors and companies such as Aramco were among those heavily affected, resulting in a collective market value loss exceeding half a trillion riyals. The repercussions of this downturn are being closely monitored by investors and analysts worldwide as they evaluate the broader implications on the financial landscape.