Mid-East Massacre: Equity Markets Plunge From Bahrain To Kuwait
With all eyes focused on tonight's China open (and the "oops, China matters after all" meme), the Middle-East has fallen off the front (or back) pages of mainstream media. However, the last few days have been a bloodbath (analogistically as opposed to literally) across the Middle-East with Saudi stocks plunging 2.5% overnight (down almost 13% in the last 5 days) and every market from Bahrain to UAE all tumbling below August lows.
Saudi's Tadawul Stock Index has collapsed in the last few days and is now unchanged since May 2009
We warned in April 2014 that Mid-East markets were utterly-exuberant when an IPO for a company that "doesn't have current operations" was 36 x oversubscribed... it appears we nailed that.
But it's not just Saudi Arabia. From UAE to Kuwait, Mid-East equity markets are tumbling...
Of course, the biggest stress is seen in Mid-East FX markets where implications of major devaluations, de-pegging are growing ever wider...
Charts: Bloomberg
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Better rename tha the TadAwfull index.
Wait till they depeg from the dollar TP.
Just wait till they depeg the dollar from the dollar if you want to see a mess. Oh, wait they did that when we went off of silver and gold.
The Doom Wrecking Ball appears to be back in play.
Even with the jewel of all commodities in the world, even by obeying US leadership, and with less than 30 million people, Saudi Arabia still manages to suck.
<<< the jewel of all commodities in the world >>>
I did not know that Saudi has PM mines.
well...as much as I love PMs, would you rather wake up tomorrow to a world completely void of gold, or a world void of oil...with out oil, we are straight to stage 10 apocalypse in a matter of seconds.
don't worry...i saw a special on TV about how the new business is all about travel. LMAO....the only reason to travel to this part of the world, is to observe how any humans could possibly waste so much money!! Once the cash burn show ends....there will truly be NOTHING left to see here. (and that's not a catch phrase)
The day when everything turns badGetting rid of these stupid asset bubbles is good.
Please take a look.
http://showrealhist.com/yTRIAL.html
The House of Saud has thrown hundreds of billions of forex reserves at the the fire to stop it no less, just as all central banks have. Too bad paper burns.
Good thing gold doesn't.
They're great at the Monopoly game. Fucking retards.
Gold melts...
You kind of have to wonder if something will pull the rabbit out of the hat and BTFD will come into play.
I think it is too early to call this, even if all the so called data is negative, history shows us that data and main street are about 6 months apart.
I tend to agree with that assessment. All numbers, be they stock or index values, GDP, employment statistics, comodity prices... ALL. Numbers. They've all become meaningless. When I see sustained violent riots in the streets of my home town, public utilities shut down, local grocery stores close their doors, or something like open war on the soil of a U.S ally, then I'll believe that the status quo is failing. Until then, it's all just noise.
I don't fight the trend.
How do u say 'aaaand it's gone' in Arabic?
I think its "Allahu Akbhar"
felipe alou
More like... you're fucked.
Havah nagilah
aloha akbar
May Mr. Market CHOP-OFF the head of the Saudi Market, it is long overdue, and oh so deserved. End the house of Saud.
they are just raising cash for the aramco ipo /s
Looks like they should have done that IPO years ago. Zuckerberg can tell them how to sell the top.
If any of these Blood Baths finally begins to take the steam out of New York, London and San Franciso High End Real Estate then bring it on! Money laundering in Real Estate has gone so far that the elite trillions is beginning to drive prices of ordinary homes beyond human reason. A graph of personal incomes versus house prices in all the major markets show opposite correlation. Prices surge while income slide. Making it unreaonable that prices should rise in a falling income market. One exception to fallin incomes and rising house prices is in Washington DC, where average family incomes surges in lock step with rising house prices. Those who feast off of the tax payers enjoy rising incomes with no end in sight. Funny how that works. Tax payers lose income, tax eaters gain income.
There's never been a better time to be a marginally competent/continent .gov employee!
I don't know what is going on and when the big collapse will hit but I am pretty sure we will be shaken up and down like a rag doll by the insiders until the last moment. They will slam us down harder every time to shake out what they want and then ramp it up again. Massive bubbles and collapses with short durations inbetween are great way to destroy things really (Russia).
I wouldn't be surprised if they blow a bunch of things up so that they can absorb excess inventory and then pull this all over again. If China isn't going along then that will definitely be a problem but then they have the option of starting major conflict.
Vergy good! Let's make upcomming trading week even better than previous week.
when the Chinese... flu, sneezes, the whole world catches a cold
Allah Snackbar....BOOM!
All these Decades of Sanctions and Iran's been Stacking!
Golden Years Ahead.
Any smart western investors who perceive anything being linked to Wahhabiism and terrorism is ultra high risk. The imbesiles behind the Saud families sect of perverted Islam will be the target.They have nothing to do with the pure Muslim Faith.Anyone who has money connected to anything,anywhere with these regimes that follow the Saud family like sheep better get your money out and fast.You just never know the mentality of the NeoCons running Washington and who could be next on their war list in fighting the "War on Terror".The military-industrial complex needs to feed on who will be next?Now that it's not Iran the path needs to turn to the original focus,which it should have been on all along.My guess is that a new Administration will get to the heart of the brainwashing and military training from chilhood to adulthood that's belind Wahhabiism.The new military that is coming in the U.S. don't forget will be on a nothing short of a massive scale in size and technology,so when it comes and it will,it'll finally be pay back time to get those behind 911.Obama and his head chopper friends who he bows down to are the real enemy.
Get those behind 911? You mean Cheney and Rumsfeld? :0
100% correct; the Al Saud family ought to be removed from power, by any means necessary. They, along with the other Gulf emirates, are largely responsible for the organization, funding, and propaganda of terror groups and Wahhabi idiocy. Moving quickly over to alternative energy, refusing to protect oil shipments from pirates, freezing Saud/Gulf businessemn's assets and prohibiting them from traveling to or investing in Western countries, should help.
A Saudi prince owns 7% of News Corporation (which operates FOX), making him the second largest shareholder after Murdoch himself. It should be no surprise that the American media are light on the cruelty of the Saudis and Gulf Arabs, while stirring up alternate anger against and acceptance of refugees...
Long goats.
I thought that new Saudi Prince was supposed to be diversifying Saudi industry (although, to what, I have no clue).
they thought they might have a corner on the Sand market. As a second line of advance they were going to go worldwide with a branded line of head towels.
Fuck the Arabs!
be still my fleeting heart!!!!!!!!
no seriously, alla dam i hate u so much!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
"Saudi's Tadawul Stock Index has collapsed in the last few days and is now unchanged since May 2009"...
Prince Ahmad Bin Douchebag, the new leader, changed the name to the "Saudi ThatsAwful Stock Index" & declared jihad against short sellers. Since all the princes are US patsies & idiots, they arrested & will execute midgets that sold stock, not realizing what short selling meant.
This is the country the USA & Israeli governments put in charge of the Human Rights Commission!