Saudi shares slump amid crisis over Khashoggi killing

Saudi stocks dropped as world leaders pressed the kingdom to come clean about how and why government critic Jamal Khashoggi was killed.

The Tadawul All Share Index fell as much as 3.8 per cent in Riyadh, with Al Rajhi Bank and Saudi Basic Industries Corporation contributing the most to the decline. The gauge climbed 1.6 per cent last week in volatile trading sessions, with some speculating state-linked funds were propping up shares.

Saudi Arabia said Saturday an initial probe showed that Khashoggi was killed at its consulate in Istanbul after “discussions” turned physical, reversing earlier denials of involvement in his disappearance.

US President Donald Trump, after initially calling the Saudi statements a “good first step,” said later Saturday that it’s a concern that Saudi officials haven’t said where Khashoggi’s body is.