With all eyes focused on tonight’s China open (and the “oops, China matters after all” meme), the Middle-East has fallen off the front (or back) pages of mainstream media. However, the last few days have been a bloodbath (analogistically as opposed to literally) across the Middle-East with Saudi stocks plunging 2.5% overnight (down almost 13% in the last 5 days) and every market from Bahrain to UAE all tumbling below August lows.
Saudi’s Tadawul Stock Index has collapsed in the last few days and is now unchanged since May 2009