Tadawul index tumbles 6%

Dubai:

Saudi Arabia’s Tadawul index tumbled 6 per cent, extending its sell-off for another session.

The Tadawul index was 6.21 per cent lower to be at 7,062.98, with 183 stocks in the negative. Traded value came in at 2 billion Saudi riyals compared to last week’s 4 billion riyals.

The Tadawul index fell more than 4 per cent on Thursday, joining a sell-off that impacted global markets triggered by comments from Donald Trump, the US president on rapid rise in interest rates.