Most stock markets in the Middle East were down, amidst trade war fear between the US and China. The downward trend came after the US raised duties on $200 billion of Chinese goods from 10% to 25% on Friday and that Trump commented the process had begun to hike tariffs on another $325 billion in Chinese imports. Beijing has threatened to take “necessary countermeasures” to the tariff increase but did not provide more details.

Saudi Arabia and Kuwait main equity indexes were down more than 2%. The Nikkei (N225) was down 0.5% and the Shanghai Composite (SHCOMP) almost 1%.

 

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Author

Omar Hajjar is a journalist based in the UK. An investigative reporter, he has lived in 3 different countries in the Middle East over the past 10 years.

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