'Oil Over Panic': Saudi Arabia’s Markets Climb Despite Global Stocks Plunge After Trump Tariffs
Video Credit: Oneindia - Duration: 03:03s - Published
'Oil Over Panic': Saudi Arabia’s Markets Climb Despite Global Stocks Plunge After Trump Tariffs
As global stock markets reel from a historic downturn—fueled by U.S. tariffs and heightened recession fears—Saudi Arabia stands out as an unexpected outlier.
On Monday, the Tadawul All Share Index (TASI) climbed 0.67%, closing at 11,191.20, up from 11,077.19 a day earlier.
The gain comes despite a worldwide stock sell-off triggered by economic uncertainty.
The positive momentum in Saudi markets is being linked to Saudi Aramco’s strategic decision to slash oil prices by $2.30 per barrel, boosting investor confidence and projecting increased global demand for Saudi crude.
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