Middle East stock markets plunge Dubai Financial Market & Saudis Arabia markets down 7%

[link to www.cityam.com]
Low global oil prices as well as a decision by credit ratings agency Fitch to cut its outlook for Saudi Arabia weighed on stock markets in the Middle East today.
The Dubai Financial Market fell almost seven per cent to 3,451.48 points, while the Saudi exchange was also down seven per cent to 7,441.33 points.

This week fears around a China-led global economic slowdown ripped through international markets with shares in Europe, London and New York all suffering. Emerging market stocks suffered as it played into concerns that the Fed is preparing to hike rates and low oil prices.


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Stock markets in the Middle East have fallen sharply after a difficult week for all major global share indexes.
The Dubai Financial Market closed down 7%, while the Saudi exchange was down 6% after Fitch ratings agency cut its outlook for the country.
Last week, the Dow Jones in the US fell 6%, while the UK's FTSE 100 posted its biggest weekly loss this year of 5%.
Investors are concerned about a slowdown in China and the knock-on effects for the global economy.
Both France's Cac 40 and Germany's Dax indexes lost 7% of their value last week.

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Last Edited by Uncle Fuck Stick on 08/23/2015 09:41 AM