Global stock market sell-off resumes as Saudi sanction fears push oil higher – Finance

  • Global stock markets continue to fall as the risk environment may remain strong.
  • Asian stock indices lost up to 1.9% at the session on Monday, while European stock indices lost a slight drop in the first hours of trading.
  • Futures in the United States also indicate a continuing decline in US markets, and the Nasdaq plans to start the week almost 1% lower.
  • Elsewhere, the Saudi stock market recovered after a major fall on Sunday after the threat of US sanctions for the disappearance of a prominent journalist and critic of Riyadh.

Asian markets resumed their downturn on Monday, and most of the major indices on the continent lost more than 1% of their value during the first session of the week and returned to the problems of global market correction after a few days of losses last week.

After almost a solid week of stock dips, global markets stopped on Friday, with countries in Asia, Europe and the United States, seeing a significant increase in prices. However, the recession seems to have resumed in Asia on Monday.

The Shanghai Composite, China's most important mainland index, fell 1.5% on Monday, while the Japanese Nikkei 225 lost 1.9% as the risk environment that penetrated the markets last week returned.

Like losses in Asia, futures markets point to another fall in all three major US indices, when trading starts at 2.30 lm. BST (9.30 m. E.). The Nasdaq looks like the biggest faker, and futures suggest a 1% drop when opened.

“Just as you don’t have to breathe too much with relief after earth tremors, we still worry about the market, which seems nervous,” said analysts at the Dutch lender ING on Monday morning.

European stocks also reported losses in the first hour of trading on Monday morning, although their declines were insignificant. By 9.15 m. BST (4.15 m.) The German DAX fell by only 0.4%, and the FTSE 100 in London fell by 0.2% from the closing price on Friday. The wide Euro Stoxx index of the 50 largest companies in the continent lost 0.3%.

Saudi fears

Elsewhere, Saudi Arabia’s main stock market, Taddawul, recovered almost 2% on Monday,Llowing a big downturn during the Sunday trading session, caused by fears that US President Donald Trump could proceed to impose sanctions on the Kingdom. This would be in response to the disappearance of journalist Jamal Hashoggi in the Turkish capital Istanbul last week. Turkish officials believe he may have been killed by Saudi agents.

Trump threatened “severe punishment” against Saudi Arabia if it turns out that he is involved in Khashoggi’s disappearance, which frightened investors, causing the index to fall to 7% at one moment on Sunday.

On Monday, he jumped 1.8% to 7.397 points.

Trump's threats also led to oil price above, reflecting concerns that US sanctions against Saudi Arabia may threaten delivery even more. Brent the international indicator is 0.7% and is 80.95 dollars per barrel on Monday morning.

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