The tariffs announced by US President Donald Trump on Wednesday, April 2, caused turbulence in global and Gulf financial markets, leading to sharp declines in Gulf market indices by the end of trading.
Kamco Invest research data revealed that Gulf stock exchanges lost around $51.5 billion in market value today.
The Saudi market led the losses, losing $39.3 billion, down 1.5 percent, followed by the Abu Dhabi Securities Exchange with losses of $6.6 billion, down 0.9 percent, then the Dubai Financial Market with about $3.9 billion, down 1.6 percent, and finally the Kuwait Stock Exchange with losses of $500 million, down 0.4 percent.
- Saudi Market: $39.3 billion, down 1.5 %
- Abu Dhabi Market: $6.6 billion, down 0.9 %
- Dubai Market: $3.9 billion, down 1.6 %
- Kuwait Stock Exchange: $500 million, down 0.4%
- Bahrain Stock Exchange: $1.2 billion, down 1.3%
Source: Al Jarida
