Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Sau...
DUBAI - Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Saudi stocks leading losses.
Shares of oil giant Aramco 2222.SE, which listed last month in a record initial public offering , fell 1.7% to hit the lowest level since it started trading on Dec 11. “A U.S.-Iran war could shave 0.5 percentage points or more off global GDP, mainly due to a collapse in Iran’s economy, but also due to the impact from a surge in oil prices,” Jason Tuvey, senior emerging markets economist at Capital Economics, said in a note last week.
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