Arab market lose over $27bn in nine days

A global financial storm continued to put pressure on Arab stock markets and depressed them by more than $27 billion in the first nine days of August, bringing the total loss year to date to around $78 billion, official data showed on Thursday.

Saudi Arabia’s Tadawul, by far the largest and most speculative regional stock exchange, emerged as the main victim of the turmoil as it dipped by nearly $15 billion in the first 10 days of August, showed the figures by the Abu Dhabi-based Arab Monetary Fund (AMF), a key Arab League financial organization.

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