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Rising tensions between Saudi Arabia and Iran rattle markets
Rising tensions between Saudi Arabia and Iran, as well as the kingdom's weekend crackdown, have rattled markets in the region. Lebanon's benchmark equity index has fallen about 3% since the weekend. Qatar, Kuwait, Dubai, and Abu Dhabi's benchmark equity indices have also tumbled in recent days. Notably, the stock moves in Saudi Arabia have been relatively modest (aside from the shares of companies owned by people who have been detained). Saudi Arabia's Tadawul index is down by about 0.5% since the end of last week. "We suspect that this reflects concerns that the Kingdom’s increasingly aggressive tone towards Iran ... (full story)