11.15 Middle East Stock Markets in Turmoil as Saudi Drops 2.85% Dubai over 3%

by John Galt
November 15, 2015 10:05 ET

It was not a good day to be long any stock markets following the U.S. cratering at the end of last week nor to be the first markets opening after the Paris terrorist attacks:

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With oil prices continuing to plummet and commodities world wide dragging down numerous investment instruments as the global recession shifts from myth to reality, there is no reason for the new alternative to Hong Kong’s banking center to shift from the Far East to Dubai so that aspect of the Emirates economy shows no sign of improving either.

The sell off today moved on beyond the Arab states and into Israel also with the TASE-25 down 2.58% in heavy trading today:

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Based on what has happened since this past Thursday, expect a violent session in the Far East tonight and into Europe and American trade tomorrow. This is not a time to “be brave” and go long as the war drums begin to beat and the global financial system is once again back to its 2008 precipice of total collapse looming on the horizon.

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