In a not so shocking move, Middle East equity markets followed Wall Street’s Friday action down as there is little indication that the war drums beating in Eastern Europe are going to die down any time soon.
First the Israeli TA-35:
Just not a good look, especially that elevator drop open. Meanwhile in Qatar:
Interestingly enough, this happens just as Qatar was acting as a broker between the US and Iran to re-activate the JCPOA and calm that situation down; which it is far from being resolved.
Lastly the Saudi Tadawul market took a hard trip downtown:
Interestingly enough the dead camel bounce happened just before the close as the royals realized that a good, short war may result in $100+ WTI and Brent crude oil prices. Regardless of what anyone thinks, this could just be the start of a year full of major conflicts, with the US being exposed as the imperialist with no clothes.