Saudi Stocks Set to Be World's Worst in May After Oil-Price Drop
Saudi Arabia's sliding stocks are on course to be the worst performers globally this month as falling oil prices prompt concerns of slower spending on mega projects in the kingdom.
The Tadawul All Share Index has slumped 6.4% in May as of Tuesday's close, the most among 92 equity benchmarks tracked by Bloomberg. The Saudi gauge is also dropping for a fourth month, the longest losing streak since 2014. That's a sharp divergence with the broader emerging market index, which is heading for its best month since September and the longest sequence of gains for almost a year.
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