Tuesday, March 1, 2011

Saudi stocket market tumbles 7%

Stocks have lost a chunk of early gains, while oil and gold have spiked higher as traders are spooked by a 7 per cent fall in the Saudi Arabia stock market on fears unrest may spread to the desert Kingdom.

However, global equities are still within 0.5 per cent of last month’s cyclical highs after the market again showed its fortitude in recent sessions, having swiftly absorbed Mideast turmoil and rising inflationary pressures. (read more)