Gulf markets plunge on U.S.-Iran tensions, Aramco hits lowest since IPO
DUBAI (Reuters) - Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Saudi stocks leading losses.
Shares of oil giant Aramco (2222.SE), which listed last month in a record initial public offering (IPO), fell 1.7% to hit the lowest level since it started trading on Dec 11.
Iranian military commander Qassem Soleimani, the architect of Tehran’s overseas military operations was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport.
The killing is seen by Tehran as an act of war that risks regional conflagration.