Broad middle-east and african stock markets crashed over 5%, erasing any gains back to November 2008 as the carnage from last week continues. From Kuwait (-4.3%) to Qatar (-8%) it was a bloodbath as Saudi Arabia Tadawul Index plunged 5.4% - the most since Black Monday (now down over 50% from their 2014 highs). These losses are far in excess of US 'catch-up' moves and suggest a dark cloud over Asia this evening.

It's been a bloodbath in the Middle-East since the year began...

Africa/Middle-East Stocks crashed 5%...

Saudi Arabia's Tadawul Index is down 5.4% on the day - the worst since August's collapse and has lost over 50% since its exuberant peak in 2014...

Kuwait down over 4% to 2009 lows...

But Qatar was carnaged... (down over 8%)

Makes you wonder where all that hot-money from The Fed flowed eh?