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A member of the security personnel is at the entrance to the Saudi consulate in Istanbul. (Petros Giannakouris / Associated Press)
DUBAI, United Arab Emirates – The Saudi stock market plunged on Sunday after President Donald Trump threatened to "severely punish" the disappearance of Jamal Khashoggi, a contributor to the Washington Post.
The Tadawul Stock Exchange in Riyadh fell more than 6% on the first trading day of the week. 182 of its 186 listed shares posted losses early in the afternoon.
Turkish officials fear Saudi agents will be killed and dismembered after the Khashoggi incident after it entered the Saudi consulate in Istanbul on Oct. 2, claiming they had audio recordings and unpublished video. The kingdom called the allegations "unfounded", but provided no evidence that the author had ever left the consulate.
In an interview for Sunday, Trump told "60 minutes" of CBS that the consequences of Saudi Arabia's involvement would be "serious".
"There is something really terrible and disgusting about it, if it was, then we will have to see it," Trump said. "We will get to the bottom of things and there will be severe punishment."
However, Trump said in the same interview, "From that moment, they deny it and they vehemently deny it. Would it be them? Yes."
The Saudi authorities did not make any immediate comments on the sale, although the national television broadcast an interview with an analyst who attributed it to weaker markets in the United States. However, other stock markets in the Middle East were much less volatile Sunday. Rising interest rates, signs of a slowdown in the global economy, and a trade dispute between the United States and China have shaken US markets.
Saudi Crown Prince Mohammed bin Salman has aggressively introduced the kingdom as a destination for foreign investment. But Khashoggi's disappearance and suspicions that he could have been targeted because of his criticism of the Crown Prince have led several business leaders and media to withdraw from a forthcoming high-profile investment conference in Riyadh. .
Trump also said "we would punish ourselves" by canceling arms sales to Saudi Arabia, which his government had touted during his first trip abroad. Selling is an "extraordinary order for our businesses," and if the kingdom does not buy its weapons in the United States, it will buy them from others, he says. Trump said he would meet Khashoggi's family.
US lawmakers in both sides have been more critical of Saudi Arabia, with several suggesting that kingdom officials could be punished if they were involved in Khashoggi's disappearance and alleged killings.
Khashoggi, who was considered close to the Saudi royal family, had become a critic of the current government and Prince Mohammed, the alleged 33 – year – old heir, showed little tolerance towards critics.
As a contributor to the post, Khashoggi has written extensively about Saudi Arabia, including the war in Yemen, his recent diplomatic talks with Canada and the arrest of women's rights activists after the ban was lifted. driving.
These policies are all considered initiatives of the Crown Prince, who also presided over a rally of activists and businessmen.
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