08.23 Stock Market Sandstorm Continues in World Markets – Saudi Arabia down 7%

by John Galt
August 23, 2015 10:00 ET

The following market charts from Bloomberg this morning tell the tale of woe that this sell off didn’t stop on Wall Street this past Friday but indeed might be gaining momentum for another steep decline this evening in Asia with possible further follow through in US markets.

Israel TA-25 Stock Exchange:

08_23_ISRAEL_TA25jgfla

Kuwait SE, which has already taken a beating this year:

08_23_KUWAIT_SEjgfla

Oman which is less than 0.5% away from a bear market:

08_23_OMAN_SEjgfla

Qatar:

08_23_QATAR_SEjgfla

Both of the major exchanges in the United Arab Emirates are cratering now, first Abu Dhabi:

08_23_ABUDHABI_STOCK

And Dubai which is now cutting back subsidies for meat and petrol for their citizens:

08_23_DUBAI_STOCKjgfla

Lastly, Saudi Arabia;s Tadawul which is down 20.07% for the MONTH and over 30% in one year as the bear market intensifies today:

08_23_SAUDI_STOCKjgfla

Stay tuned as tonight will not be dull when currency markets begin trading later on this afternoon.

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