Saudi leads Gulf bourses lower on recession worries – Reuters
- Date: 25-Sep-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi leads Gulf bourses lower on recession worries – Reuters
Sept 25 (Reuters) - Saudi Arabia's stock market tumbled on Sunday, leading declines across Middle East, in response to Friday's fall in energy prices and on fears that aggressive interest rate hikes by major central banks to tame inflation could cause a global recession.
On Friday, MSCI's world stocks index (.MIWD00000PUS) shed 2.07% to almost two-year lows. The pan-European STOXX 600 index (.STOXX) closed down 2.34%, its biggest weekly loss in three months.
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