Saudi shares tumble as Aramco drops 10 per cent

The Saudi stock market, the largest in the region, tumbled 9.2 per cent at the start of trading Monday with energy giant Saudi Aramco diving 10 per cent, well below its listing price.

The drop comes following a crash in oil prices on the global market after OPEC and its allies failed to reach a deal on production cuts to shore up prices dented by the coronavirus.