Saudi benchmark falls 2.3% on Thursday as it records an eighth straight weekly decline and its steepest drop in more than two years

Gulf stock markets closed lower on Thursday, with Saudi Arabia’s benchmark down 2.3%. The index recorded its eighth consecutive weekly decline and its steepest drop in more than two years. Saudi National Bank, the kingdom’s largest lender by assets, fell 5.1%, while Saudi Aramco lost 0.7%.