(Bloomberg) — Stocks in the Middle East nosedived as the world’s biggest crude producers failed to agree on production cuts, kicking off a price war and sending oil into freefall.The main benchmarks in Dubai, Abu Dhabi and Kuwait declined between 5.3% and 6.4% within the first half hour of trading on Sunday, with banking shares losing the most.Emirates NBD PJSC, Dubai’s biggest lender, fell as much as 9.6%, while First Abu Dhabi Bank PJSC and National Bank of Kuwait SAKP dropped as much as 8.5% and 8.2%, respectively.Oil prices plunged the most since 2008 on Friday on signs of a …read more
Source:: Yahoo Finance
