On Sunday, Saudi Arabia’s stock market experienced a severe decline, dropping by 6.78%, marking its steepest daily drop in five years and erasing over 500 billion riyals ($133 billion).
State Media reported that the index dropped more than 800 points, marking its worst loss since the panic caused by COVID-19 in 2020. This sharp decline, covered by Al-Ekhbariya, was triggered by trade tariffs imposed by the United States under Donald Trump. This situation ignited a global market meltdown and heightened fears of a potential trade war and looming recession.
Saudi Stocks Take 5-Year Record Fall After US Tariffshttps://t.co/gfnPAb1olF pic.twitter.com/kwOnQtFt36
— Channels Television (@channelstv) April 6, 2025
Heavyweights like Saudi Aramco bore the brunt, with shares diving 6.2%, slashing its market value by over 340 billion riyals, per Al-Eqtisadiah. Sector losses piled up; utilities cratered 8.4%, banking fell 6.9%, telecoms 5.9%, and energy 5.29%. “It’s the biggest daily hit in five years,” state TV noted, as the ripple effect from Trump’s tariffs hammered Gulf markets too. Analysts brace for more pain when trading resumes Monday.
Saudi stock market closes with 5-year record loss after US tariffs https://t.co/usWZ6oKKYQ
— Khaleej Times (@khaleejtimes) April 6, 2025
The U.S. tariff wave has rocked worldwide stocks, but Saudi Arabia’s $133 billion loss stands out. With Aramco and key sectors reeling, the kingdom faces a tense road ahead—trade tensions and recession whispers loom large.
Read: Trump Defends Sweeping Tariffs, Warns of Pain Before Prosperity