A Saudi investor monitors the stock exchange at the Saudi Stock Exchange, or Tadawul, on June 15, 2015 in the capital Riyadh. AFP PHOTO / FAYEZ NURELDINE
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Dubai led a retreat in Middle Eastern stocks that drove Saudi Arabia's index into a bear market, extending last week's global selloff, as crude's decline to a six-year low reverberated through a region dependent on oil and gas exports.Saudi Arabia's Tadawul All Share Index tumbled 6.9 percent, taking its decline since 2015's peak in April to 24 percent. Qatar's QE Index fell 5.3 percent, while Israel's TA-25 Index lost 4.1 percent. Dubai stocks edged closer to a bear market after the index sank 7 percent to close at 3,451.48, bringing its loss since 2015's peak to 18 percent. Traders exchanged about 340 million shares on the index, 14 percent more than the 12-month average. Israel's TA-25 Index slumped the most since September 2011, led by Bank Leumi Le-Israel's 5.1 percent drop.Egypt's benchmark EGX30 Index retreated 5.4 percent, led by Commercial International Bank Egypt SAE's 5.2 percent drop.
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