Saudi, Egyptian stock markets tumble as regional tensions mount

Saudi and Egyptian stock benchmarks fell sharply on Sunday as Yemen conflict escalation and concern over a wider regional war pressured Gulf markets.

• The Saudi main TASI index fell 2.96% to 9,409 points during Sunday trading.
• Egypt's EGX30 index dropped about 5%, nearing its lowest level in seven months.
• The Saudi-led coalition said it intercepted drones and missiles over Riyadh and southern areas.
• Saudi Arabia postponed its Future Investment Initiative conference, scheduled for October 26–29, to 2027.
• Egypt's stock market lost about 261 billion pounds in market capitalization as its main index fell more than 5% on October 25.
• The broader Egyptian index plunged 10%, prompting a temporary 30-minute halt in trading.
• Rania Yacoub attributed the sell-off to regional tensions, an expected parliamentary decision, and rising energy prices and inflation.
• Egypt's EGX30 closed at 49,234 points on Sunday, down 3.56%, while the EGX70 and EGX100 indices fell 11.07% and 8.88%.
• Egyptian investors made net purchases of 47.6 million pounds, while foreign investors recorded net sales of 80.2 million pounds on Sunday.