money and business
AY / AS / JAS
The Saudi stock market index fell, on Monday, by more than 400 points, by 6.5%, and stopped at 6,407 points, to reach its lowest level in more than 3 years.
The trading session witnessed a semi-collective decline in shares, led by “SABIC”, “Al-Rajhi Bank” and “Al-Ahli Commercial”, while “Saudi Aramco” shares were traded at 28.10 riyals (-6%).
The Kuwait Stock Exchange witnessed the suspension of trading for the third time in the last period after the losses exceeded the 10%.
The drop in the market index is influenced by the sharp decline in oil prices after the failure of the “OPEC” and Russia in agreeing to deepen production cuts, while fears increase in the severity of the spread of the Corona virus globally.