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FinancialNews


  • 13-12-22

    TASI closes Monday’s session on lower note following worldwide markets

    (MENAFN) Saudi Arabia’s main index dropped 105.12 points — or 1.04 percent — on Monday, to end at 10,033.19, trailing the main worldwide indices that fell in anticipation of the US consumer index report to be issued on Tuesday.

    The fear arises from the US wholesale inflation numbers that have been surging as of September 2022, and Federal Reserve might raise interest rates to fight inflation.

    The result of the Fed verdict would surge the price of borrowing, resulting in lower financial action and driving a worldwide recession.

    The majority of the top worldwide indices fell, with the S&P 500 and Nasdaq composite each decreasing 0.7 percent, whereas the Dow Jones Industrial Average dropped by 0.9 percent.

    Likewise, Germany’s DAX lost 0.5 percent, CAC 40 in Paris by 0.4 percent as well as Britain’s FTSE by 0.3 percent.

    In the case of the Tadawul All Share Index, the market has not reached the 10,033.19 mark in 19 months when it finished standing at 10,048.70 points on the 18th of April, 2021.

    MENAFN13122022000045014228ID1105302232

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