Saudi Stock Market Takes a Camel Dump as it Drops 3%

by John Galt
October 2, 2016 09:30 ET

OBAMABOWS_saudi

Guess the Obama lame duck magic is wearing off (Chart courtesy of Bloomberg):

100216_saudi_tadawuljgfla

Oil is indicated to open substantially lower later today if the Middle East trading session is any indication, even though it was not throughout the entire region, the overnight and Monday trading session for equities globally could be interesting. Needless to say, the horrid economic conditions and further actions by the Saudi government which indicate that they may indeed be in greater financial trouble than publicized, along with the ongoing wars they started in Syria and Yemen, could bode poorly for the economy in the entire GCC region.

Stay tuned.

1 Comment on "Saudi Stock Market Takes a Camel Dump as it Drops 3%"

  1. Nexusfast123 | 03/10/2016 at 23:57 |

    Mono economy that will run out of time in terms of trying to diversify. Especially if conventional methods are used.

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