Arab Markets Fall as US Tariffs Affect Global Stocks

Arab Markets Fall as US Tariffs Affect Global Stocks

Arab stock markets went down on Sunday as they started reacting to the effects of U.S. President Donald Trump’s increased tariffs, which caused stock markets around the world to fall.

Saudi Stock Market (Tadawul)
On Sunday, the main Saudi stock index dropped by 805.46 points (about 6.78%) to end at 11,077.19 points. The total value of trades was $2.2 billion (SAR 8.4 billion).

Around 450 million shares were traded. Only one company’s shares went up, while 252 companies saw their shares go down. Nama Chemicals had the biggest gain, while KEMANOL, Riyadh Cement, Wafrah, Al-Asmak, and Eastern Province Development had the biggest losses.

The smaller Nomu market also dropped by 1,992.71 points (6.5%), ending at 28,648.22 points. Trades in Nomu were worth $18.4 million (SAR 69 million).

Muscat Stock Exchange

The Muscat Stock Exchange index fell by 114.4 points (2.62%) on Sunday to close at 4,252.66 points.

Trading value was $14 million (OMR 5.3 million), which was 8.6% less than the previous session. The market value also fell by 1.24%, reaching about $70.9 billion (OMR 27.29 billion).

Qatar Stock Exchange

On Sunday, the Qatar Stock Exchange dropped by 432.94 points (4.23%) to finish at 9,800.01 points.

About 234 million shares were traded, worth $152.4 million (QR 554.9 million), across 29,749 transactions.

Only one company’s stock price went up. Shares of 52 companies went down, and three companies stayed the same. The total market value was $158 billion (QR 575.4 billion).

Boursa Kuwait

The Kuwait stock market also fell on Sunday. The All Share Index dropped 412.84 points (5.16%) to 7,587.89 points.

About 346.7 million shares were traded, worth $297.2 million (KWD 96.5 million), through 22,874 trades.

• The Main Market Index dropped 192.66 points (2.67%) to 7,013.23.

• The Premier Market Index lost 488.79 points (5.69%) to 8,106.08.

• The Main 50 Index went down 376.43 points (5.35%) to 6,656.38.

Raed Diab from Kamco Invest said the market reaction was due to panic caused by US tariffs. He said investors are being cautious, focusing on keeping cash until things are clearer.

He added that the new US tariffs might affect Kuwait indirectly—especially if global growth slows and oil demand drops. This could hurt Kuwait’s budget, which depends on oil. A weaker US dollar could also affect the Kuwaiti dinar, which is partly linked to the dollar.

Egyptian Stock Exchange

All the main stock indices in Egypt went down on Sunday:

• The EGX 30 dropped 3.34% to 30,639.52 points.

• The EGX 70 (for smaller companies) fell 4.84% to 8,649.18 points.

• The EGX 100 (broader index) dropped 4.58% to 11,941.06 points.

Background on Market Drops

The drop in markets followed new tariffs announced by former US President Donald Trump on April 2. These tariffs make imported goods more expensive and have caused concern among investors around the world.

China now faces a 54% tariff. The EU will get a 20% tariff starting April 9, and India will have a 26% tariff. There’s also a 25% tariff on cars not made in the US.

On Sunday, the US S&P 500 fell 5.97% to 5,074.08 points, and the Dow Jones dropped 5.5% to 38,314.86 points.

Published: 7th April 2025

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