According to Bloomberg, the main stock indexes of Middle Eastern countries including Saudi Arabia saw their biggest decline since 2020 on April 6 local time. This was a reaction by investors to the risks of a new round of global trade war and low oil prices.
It is reported that the stocks of the Saudi main board market once fell by 6.1%, and the stock index of Qatar and Kuwait fell by more than 5.5%.
Bloomberg pointed out that Saudi Aramco, the world's largest oil exporter, was one of the biggest losers in this region. The company's market value has decreased by more than 90 billion US dollars at one point.
Last week, after U.S. President Trump announced the highest tariffs on his trading partners in more than a century, global markets began to plummet.
On April 4 local time, the three major U.S. stock indexes all fell sharply. The S&P 500 Index closed down by 6%. The Nasdaq Composite Index, which has a higher proportion of technology stocks, fell by 5.8%. The Dow Jones Industrial Average fell by more than 2200 points, with a drop of about 5.5%.
The Nasdaq index has fallen by 22% from its high last December, and the Nasdaq Composite Index has entered a bear market (i.e., a drop of more than 20% from the high).
In response to the sharp fall in the stock market, Trump forwarded a video posted by his supporters on April 4, implying that the stock market crash was "intentional" on his part. On April 5, Trump posted a message calling on Americans to "hang tough".
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Original source: https://www.toutiao.com/article/7490385317078237705/
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