Saudi bourse continues to drop

Saudi Arabia's stock market, the largest in the Arab world, on Tuesday dropped for the third day running, shedding 3.5 percent by the close. The Tadawul All-Shares Index (TASI), which had lost about 11 percent over the past two days, finished at 5,338.68 points, its lowest level in almost four and a half years.

Market leader SABIC shed 4.75 percent while the petrochemicals sector as a whole shed 6.7 percent. The banking and financial sector lost 1.16 per cent. The real estate declined by 5.11 percent.