Sunday, August 23, 2015

Damocles' Sword Is Falling

Taiwan stock market: biggest decline in 25 years - 7%

Earlier today i.e. Sunday in ME:

"The DFM General Index lost as much as 7.5 percent, the most this year. Saudi Arabia’s Tadawul All Share Index tumbled 6.9 percent, taking its decline since 2015’s peak in April to 24 percent. Qatar’s QE Index fell 5.3 percent, while Israel’s TA-25 Index lost 4.1 percent. Egypt’s EGX 30 Index slid the most since November 2012. Gauges in Abu Dhabi and Oman declined more than 10 percent since a recent peak, the threshold for a market correction. The slide in Brent crude, the benchmark grade for more than half the world’s oil, to the lowest close since March 2009 is piling pressure on Gulf states at a time when investors are pulling out of higher-risk assets following China’s devaluation of the yuan"