{"id":663308,"date":"2025-04-07T00:00:00","date_gmt":"2025-04-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/07\/mena-markets-suffer-sharp-losses-amid-tariff-oil-woes\/"},"modified":"2025-04-07T00:00:00","modified_gmt":"2025-04-07T00:00:00","slug":"mena-markets-suffer-sharp-losses-amid-tariff-oil-woes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/07\/mena-markets-suffer-sharp-losses-amid-tariff-oil-woes\/","title":{"rendered":"MENA markets suffer sharp losses amid tariff, oil woes"},"content":{"rendered":"

It\u2019s a bruising start to the week for MENA equities as global markets recoiled from the <\/strong>Trump administration\u2019s decision to impose a blanket 10% tariff on all imported goods,<\/strong> which came into effect starting Saturday. Slumping oil prices and mounting fears of a prolonged trade war sparked a broad-based selloff.<\/p>\n

Tadawul takes the biggest hit on Aramco plunge:<\/strong> The Tadawul All Share Index (TASI) plunged 6.8% on Sunday \u2014 its worst session since May 2020. Saudi Aramco led the sharp losses, erasing more than USD 90 bn of market cap mid-session. Meanwhile, the Nomu parallel market also fell 6.5%.<\/p>\n

Over in Egypt, <\/strong>the EGX30 lost 3.3% yesterday following a strong rally in recent months, with all the index\u2019s components in the red. The index is still up 3.0.% YTD. Meanwhile, the UAE saw Dubai\u2019s DFM falling 1.5%, and Abu Dhabi\u2019s ADX slipping 0.8% on Friday. Investors will be watching for more downside during today's open, as markets had closed ahead of the official tariff rollout.<\/p>\n

Elsewhere:<\/strong> Qatar\u2019s QE Index dropped 4.2%, with almost every listed company closing in the red. Oman\u2019s MSX30 fell 2.6%, while Jordan\u2019s ASE dropped 2.1% amid its inclusion in the high-tariff group. Tunisia\u2019s Tunindex edged down 0.1%, and Morocco\u2019s MASI lost 0.2%.<\/p>\n

IN CONTEXT- The base 10% tariff came into effect over the weekend, with steeper rates <\/strong>\u2014 up to 49% \u2014 on goods from 57 countries set to hit this Wednesday, 9 April.<\/strong> Much of the Arab world dodged the worst \u2014 including Saudi, the UAE, Egypt, Morocco, and others, who are only facing the 10% levy \u2014 others were less fortunate: Syria (41%), Iraq (39%), Libya (31%), Algeria (30%), Tunisia (28%), and Jordan (20%) are facing higher rates.<\/p>\n

MARKETS THIS MORNING-<\/p>\n

Asian markets are inching down this morning <\/strong>as the tariff shakedown continues to roil global markets. Hong Kong\u2019s Hang Seng is down 9.3%, while Japan\u2019s Nikkei is down 6.5% and the Shanghai Composite is close behind at 6.0%. Wall Street futures are also signalling more losses for the S&P 500, Nasdaq, and Dow on market open.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong><\/p>\n<\/td>\n

\n

30,640<\/p>\n<\/td>\n

\n

+3.3% (YTD: +3.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 51.06<\/p>\n<\/td>\n

\n

Sell 51.19<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB)<\/strong><\/p>\n<\/td>\n

\n

Buy 51.08<\/p>\n<\/td>\n

\n

Sell 51.18<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,077<\/p>\n<\/td>\n

\n

-6.8% (YTD: -8.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9187<\/p>\n<\/td>\n

\n

-0.8% (YTD: -2.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

4951<\/p>\n<\/td>\n

\n

-1.5% (YTD: -4.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5,074<\/p>\n<\/td>\n

\n

-6.0% (YTD: -13.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8,055<\/p>\n<\/td>\n

\n

-5.0% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

4,878<\/p>\n<\/td>\n

\n

-4.6% (YTD: -0.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 65.58<\/p>\n<\/td>\n

\n

-6.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n

\n

USD 3.84<\/p>\n<\/td>\n

\n

-7.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 3,035.40<\/p>\n<\/td>\n

\n

-2.8%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 78,047<\/p>\n<\/td>\n

\n

-6.7% (YTD: -16.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/p>\n

The EGX30 fell 3.3% at today\u2019s close<\/strong> on turnover of EGP 3.6 bn (1.7% above the 90-day average). Local investors were the sole net sellers. The index is up 3.0% YTD.<\/p>\n

In the red:<\/strong> Fawry (-7.5%), Qalaa Holdings (-6.4%), and Rameda (-6.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Tadawul took the biggest hit on Aramco plunge<\/p>\n","protected":false},"author":1,"featured_media":663309,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[68,72,345,122,1134],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-663308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-egx","tag-enterpriseam","tag-mena","tag-planet-finance","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"9fbdf2ad-6728-4846-b80c-efad4fd88c06","order":"14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/124.jpg","photo_position":"above","homepage_title":"","full_issue_title":"MENA markets suffer sharp losses amid tariff, oil woes","related_issue":[663284],"teaser":"Tadawul took the biggest hit on Aramco plunge","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.d5ff0e0f-6e67-4df4-b671-bb49f84673d6.mp3"},"yoast_head":"\nMENA markets suffer sharp losses amid tariff, oil woes - 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Saudi Aramco subsidiary Luberef is looking to make its Tadawul debut in an IPO that could raise over USD 1 bn, Bloombergreports citing people familiar with the matter. 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