(Private - Amazon)
The Gulf markets fell sharply with the start of trading today, Monday, in conjunction with sharp declines in oil prices yesterday and continued with the beginning of today's session, in addition to the continuation of negative repercussions From the spread of the Corona virus.
The Saudi index fell by more than 9% in the beginning of trading today, and the general market index in Kuwait declined 8.9% near the middle of the session, while the Kuwait Stock Exchange management stopped trading in the market The first was after his losses exceeded 10%.
The UAE markets fell by 8.5% on the Dubai Stock Exchange and about 9% on the Abu Dhabi Stock Exchange, with negative expectations that the pace of declines will continue until the end of this week. p>
The situation did not differ in the Qatari market, which fell 9.25% after breaking the important percentage barrier of 8200 points, with losses approaching 840 points.
The general index of the Muscat Securities Market recorded a decline of 5.2% at 3785.8 points, and the Bahrain Stock Exchange fell 5.5%, with a loss of 85.5 points.
Analysts believe that the great decline witnessed in the Gulf stock exchanges today is logical as a result of the drop in oil prices by more than 28%, in addition to the continuing state of panic over the spread of the Corona virus worldwide and the emergence of New hotspots for infection.
It seems that the decline in oil is closely related to news from the deadly virus, because the fear of the virus turning into a global pandemic has cast a negative shadow on all aspects of economic, social and political life .
After the infection of the virus was confined to China and its surroundings from the neighboring countries in the Asian continent, the outbreak of the virus increased in Europe, especially Italy, as it spread to the African continent, in particular countries The Arab Maghreb and Egypt.
As fears grow that the virus has turned into an epidemic, the scene is characterized by more ambiguity and foggy, which may indicate the continuation of the downward path in the coming period and until incentives or Positive news looms.
