Saudi index closes up 1%
Kuwait up 3%
US stocks open higher
Middle Eastern stocks closed trading higher on Tuesday following days of turmoil.
Saudi Arabian stocks were up for the second day in a row on Tuesday, making a 1 percent gain.
On Sunday the Saudi index dropped 6.8 percent, its largest one-day fall since the Covid-19 pandemic.
Kuwait’s stock exchange registered a 3.08 percent gain on Tuesday, the region’s most significant recovery.
Dubai’s main share index climbed 1.9 percent, while Abu Dhabi’s Securities Exchange added 0.5 percent.
Qatar was up 1.3 percent, while Egypt’s exchange recovered by 0.6 percent.
Global stocks also showed signs of a partial recovery on Tuesday. The S&P 500 opened 3.7 percent higher, and the Nasdaq was up 4.2 percent on market open.
Despite Gulf economies not being specifically targeted in Donald Trump’s tariffs, plus there being an exemption for energy products, falling oil prices and concerns over the global economy fuelled a sell-off.
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