Saudi Arabia and Egypt lead the decline
Capital markets in the Middle East region lost $32bn in value over the past 20 days, says the Arab Monetary Fund.
The value of the 15 stock exchanges in the region dropped from $913.3bn at the end of July to about $881bn. The Saudi Stock Exchange (Tadawul), accounted for about half of that fall, while Egypt’s exchange fell by nearly $5bn.
Qatar fell from $123bn to $118bn and Kuwait from $101.7bn to $98.5bn. In the UAE, the Dubai Financial Market fell from $53.5bn to $52.3 and the Abu Dhabi Exchange fell to $69.1bn from $70bn.