Thu, 2022-09-15 09:37
RIYADH: Saudi stocks plunged around 1.6 percent on Wednesday as investors weighed the impact of potential further interest rate hikes.
TASI ended the session 1.6 percent lower at 11,893, while Nomu the parallel market lost 0.7 percent to 20,851.
Rate hike fears also subdued gains in fellow Gulf and Middle Eastern markets, with the Egyptian index tumbling 1.9 percent, followed by a 1.7 percent loss in Qatar.
Dubai, Abu Dhabi, Kuwait, and Oman all shed between 0.2 and 0.9 percent, while the Bahraini bourse exited the session nearly flat.
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