GCC and global markets trounced as pandemic fears weaken sentiment

Executive Summary

Kuwait and other GCC markets continued their downward spiral amidst coronavirus spread and oil price crash, as countries impose strict measures to curb the spread of COVID-19. GCC governments and Central Banks initiate reforms to soften its impact on the economy.

We see the following issues as key developments during the month of March:

- Steps taken by GCC countries so far to fend off the economic impact of COVID-19
- Did Saudi Arabia and Russia pick the worst time to wage a price war?
- Parallels between COVID-19 and global financial crisis
- Sectors under COVID-19's grip
- Kuwait market's biggest drawdowns and how long they took to recover
- Circuit breakers/trading curbs in GCC Stock Exchanges