Saudi stocks dived 7.0 percent in early trading on Sunday as the drop in Saudi stocks was the result of panic selling because of several political and economic factors.
The Tadawul All-Shares Index (TASI) quickly lost more than 500 points on the first trading day of the week, wiping out all the gains it had made since the start of the year.
The TASI was trading at just above 7,000 points, a 10-month low, having reversed all of the 18-percent gain it had notched up since the start of 2018.
All 15 sectors in the market were in the red while almost all listed shares dropped.
In just two sessions the Saudi bourse, the largest in the Arab world, has shed almost $50 billion of its capitalisation, which now stands at around $450 billion.