Tadawul Review:

Tadawul All Share Index (TASI) fell on Monday, falling by -‎‎250 points (-2.1%) to close at the 11,504 levels. TASI started ‎the session negatively, opening with big losses of -133 points, ‎after that, it displayed fluctuations throughout the session ‎until it closed. Overall, 20 out of 21 sectors closed in the red ‎zone, while 217 shares fell and 18 rose. Banks (-1.4%), ‎Materials (-3.3%), and Utilities (-4.2%) sectors contributed ‎the most to the index fall. Stockwise, ACWA Power (-5.0%), ‎Saudi National Bank (-5.2%), and Aramco (-1.3%) were the ‎major contributors. The trading activity witnessed an increase ‎in volume and value of 36% and 64%, respectively, to reach ‎‎454 shares and SAR10.6bn in value traded.‎

 

 

 

Market Wrap International: 

U.S. stock futures fell early Monday after a rough week for Wall Street, with the Nasdaq entering correction territory. Last week, the tech-heavy index fell over 10% from its recent peak, following a disappointing jobs report that fueled worries about a potential recession and doubts about the Federal Reserve’s decision to keep interest rates steady. The S&P 500 fell by -3%, the Nasdaq Composite decreased by -3.4%, and the Dow Jones Industrial Average lost -2.6%.

European stock markets plummeted at the start of trading following significant selloffs in Asia. These declines are driven by concerns about a potential recession in the United States, which has led to a sharp drop in technology stocks. The turmoil has caused European markets to open with notable losses, continuing the trend of severe sell-offs amid growing recession worries. The CAC 40 fell by -1.4%, the DAX declined by -1.8%, and the FTSE 100 dropped by -2%.

 

Monday saw record declines in Asian markets as the U.S. selloff spread globally. Japan's stock market dropped 12%, its worst fall in 37 years, amid fears of a U.S. recession. The Topix lost all its yearly gains, marking the steepest drop since October 1987's "Black Monday”. The major Asian stock indices KOSPI declined by -8.8%, the Nikkei 225 decreased by -13.5%, and the Hang Seng Index fell by -1.5%.