Saudi stocks dive after finance minister vows 'painful' measures

Dubai (AFP) – Saudi shares tumbled on Sunday, a day after the finance minister announced “painful” measures to tackle the economic impacts of the coronavirus pandemic.The Tadawul stock market closed the day a huge 7.4 percent lower, as all but one of the 195 listed stocks on the Arab world’s largest bourse were in the red.Energy giant Saudi Aramco dipped 5.2 percent at the close of the first trading day of the week for the Muslim region.Finance Minister Mohammed al-Jadaan said late Saturday that the kingdom would take “drastic measures” to face the double shock of the novel coronavirus and low…

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