The Saudi Stock Exchange records the biggest loss in 3 weeks

The Saudi Stock Exchange fell at the largest rate in 3 weeks, as the “Tassi” index fell by 1.9%, which recorded the biggest loss since the week ended on April 10, when it fell 3.2%. The losses of the week were driven by the decline in the index in Thursday’s session by 1.1%, in the largest daily decline since April 9, amid the pressure of the “Al -Rajhi Bank” arrow, which fell by 0.9%, and the market dropped to the third session in a row. The Saudi financial market, similar to the rest of the markets, especially upcoming, sees a decrease in morale in the absence of incentives and trade tensions worldwide, as US President Donald Trump has announced its decisions to increase customs recognition. Although these identifiers did not affect the Saudi economy the most, the prospects for the oil price at the price levels of about $ 66 a barrel this year. The current week was the fall in oil prices after a report stating that Saudi Arabia is not ready for further production discounts, and that it can bear the fall in prices for a long time. In collaboration with the beginning of the contemporary session, the data appeared that indicated the slowdown in the economy of the kingdom, as the public statistics authority indicated that gross domestic product for the first quarter of 2025 had delayed its growth to 2.7%, due to the return of oil activities to the growth of two successive activities. It is also accompanied by the International Monetary Fund, its expectations for the growth of the Saudi economy have reduced this year, from 4.6%, as in October’s expectations to 3%, according to the expectations of the “Middle Eastern Economics report”, presented today in Dubai by the director of Middle East and Central Azour, Jihad Azour.