Bags from the Persian Gulf countries opened with losses greater than the time of the pandemic on the first day after US tariffs

The bags of the Persian Gulf Petroleum countries resumed their activity this Sunday with great losses, in the environment of 5 %, on their first day of operation after the announcement of the president of the United States, Donald Trump, of the imposition of global tariffs, which caused generalized falls in the markets around the world before the fears of a recession.

By Infobae

Saudi, Kuwait and Qatar bags are the most affected part -time this Sunday, since their indicators are left 5.34 %, 5.69 %and 4.21 %, respectively; followed by the Odani (2.07 %) and that of Baréin (1.09 %).

These are the greatest losses recorded by the Persian Gulf bags, which, from the pandemic, operate from Sunday to Thursday.

The most affected sectors at noon are those of energy, where the shares of the Saudi Petroleum Aramco, the largest in the world, fell 4.56%, as well as the banking sector.

These declines arrive after Trump unleashed on April 2 a war of tariffs, imposing a minimum general rate of 10 % to all products that enter their country, with other higher levies for various economies such as China or the European Union.

The XI Jinping regime, meanwhile, has already announced the imposition of 34 % reciprocal tariffs for US products.

The losses of today of the bags of the Arab countries of the Persian Gulf, rich in oil and gas, also occur after the fall recorded in recent days in crude oil prices, both by the tariff war and by the unexpected increase in the production of crude oil by the OPEC+alliance, led by Saudi Arabia and Russia.

Eight countries of that alliance – Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman – announced by surprise last Thursday an increase of their production in 411,000 barrels per day as of May, almost triple the planned monthly increase, which accelerated the fall in oil prices.

That measure, and the fears of a global economic slowdown, led the Brent to finish the week at $ 65, the lowest value since 2021.

Trump’s tariff plan, which kept markets in the last weeks, is a 10% global tariff and higher rates for other countries and blocks, according to what the White House estimates that they impose as taxes and barriers to US exports.

Among the taxes announced by Trump, 20% stand out for imports from the European Union (EU), 34% to Chinese and 26% to the Indies.

The commercial war unleashed by these tariffs, which have kept the markets this week, has sown fear among operators to a possible slowdown in economic growth, which, according to experts, generally leads a lower fuel demand.