Saudi stocks plunge almost 10%

Saudi stocks plunge almost 10%

news.yahoo.com

It was one of the worst days in the history of Saudi shares. All the 124 stocks that traded dropped by close to 10 percent, the maximum allowed under Saudi law.

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More bad news not just in US and Europe, but also Saudi land. Seems as though they have also tried injecting fresh money into their markets but to no avail.

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"It's a panic from what's happening in the global market. Investors here are simply expecting the worst in the US and European markets and are anticipating a severe impact in Saudi Arabia and the region," Dakkak told AFP.



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