DUBAI - Saudi stocks .TASI plunged 2.3% as the market opened on Sunday, after attacks on two plants at the heart of the kingdom’s oil industry a day earlier knocked out more than half of Saudi crude output.
Sunday’s decline extended a losing spree for Saudi stocks, which in recent weeks have been hit by expensive valuations, weak oil prices and concerns about the economic outlook. The index has lost all its gains this year and is down about 18% from its 2019 high of 9,403 points seen in early May.The index’s earlier gains were fueled by Saudi Arabia’s entry into the MSCI and FTSE Russell’s emerging market indices.
“The market was expensive versus the region and other emerging markets, plus second-quarter earnings were not good.”
Israel bombed those refineries to start a war between Iran and America. It's clever b/c the Saudis recognize Israels right to exist. strengthening their alliance and to hopefully weaken Iran backed Hezbollah and Houthis. Israel is not America's friend! AP
Poor MBS the Saudi Butcher losing his CASH while he continues his murder spree.
not exactly
Oh very sad.
was likely the whole point, right?
I'm sure Saudi Arabias military can / should protect all of its oil & storage tanks . In fact being at WAR with Yemen all these times / years they should be on high alert !
Great news
Very sad for Saudi stocks.