Saudi, Egyptian markets slump as US-Iran conflict roils region

(Bloomberg) — Saudi Arabian and Egyptian stocks fell on Sunday, in one of the first signs of the US-Iran war hitting the region’s financial markets. Saudi Arabia’s Tadawul All Share Index fell 2.2%, the biggest daily loss since April and reversing its gains for the year. The drop would have been bigger had it not been for oil-producing giant Aramco, which makes up about 16% of the exchange’s weighting, climbing 3.4%. The company’s move up was because crude prices are likely to jump when global markets ope ...