(Bloomberg) — Middle Eastern stocks slumped on Sunday, with Saudi Arabia’s falling the most in almost eight weeks after the kingdom’s finance minister said “painful” measures — including deep spending cuts — were needed to respond to the coronavirus and crash in oil prices.The Tadawul All Share Index lost as much as 7.6%, the most since March 9. Oil giant Saudi Aramco retreated 6% as of 11:01 a.m. local time to trade below 30 riyals per share.The world’s biggest oil exporter hasn’t witnessed “a crisis of this severity” in decades, Mohammed Al-Jadaan said in an interview with Saudi television station …read more
Source:: Yahoo Finance
