Saudi Insurance Stocks Beheaded in Aggressive Trading, Shares Fall to Lehman Era Lows

The losses are impressive and with vigor. Saudi stocks are hitting 7 year lows, the lowest since the good olde days of Lehman (note: Deutsche Bank is NOT Lehman). Moreover and in spite of the new accord that will bring OPEC production halting to a staggering level unseen since January of 2016, no one really gives a shit about the prospects of Saudi prosperity away from the great, fucked, oil trade.

Amongst the hardest hit are in the insurance sector, as the Saudi financials circle the drain awaiting swift and an energetic beheading.

Solidarity -10.7%
Enaya -10.5%
Salama -10.05%
Allied Cooperative -10%
Trade Union -9.9%
Alahli -9.9%
Al-Ahlia -9.7%

Stocks plunge by more than 3% to 2009 levels.

And, here are the most impressive downside movers for the day.