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10.08.23 Middle East Stock Markets Reflect the Turmoil

The Middle East War has obviously impacted equity markets in the region this morning.

Israel’s TA-35 opened down sharply, just over 7% and recovered some of the losses at the close.

In Saudi Arabia, the Tadawul opened sharply down and closed at the lows of the day.

In Qatar the reaction was down as expected but somewhat muted.

In Egypt, especially after the news of the Israeli tourists being killed, the markets opened up dramatically down only to recover most of the losses at the close.

As of 8:30 a.m ET this early Sunday morning, the US futures are indicated lower by about 145 points but a lot can happen between now as the open of Asian and US futures tonight. Remember, there is no bond trading tomorrow so it could be quite a subdued session barring a change in global events.

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