The Saudi Stock Market Is Down by 1.58%

The Saudi stock market fell by 1.58% at the end of yesterday's session, due to the bleeding of global markets and the escalation of expectations of a US interest rate hike. While European, Asian and Gulf stocks fell, to inflict sharp losses on Wall Street after higher-than-expected US inflation data reinforced expectations of a larger interest rate hike in the Federal Reserve (the US central bank) next week.

The main market index (TASI) recorded a decrease of 1.58%, or the equivalent of 191 points, at the level of 11,893 points.

The value of trades amounted to SAR 5.45 billion through trading about 121.83 million shares, and it is noteworthy that the decline of the Saudi stock market in yesterday's session falls under the psychological and behavioral factors of investors.

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