Saudi Arabia`s stock market fell in early trade on Sunday after Crown Prince Mohammed bin Salman moved to consolidate his power and crack down on corruption with a Cabinet reshuffle and a string of detentions of prominent figures.
The Saudi equities index was down 1.
5 percent after eight minutes of trade.
Investment firm Kingdom Holding, owned by billionaire Prince Alwaleed bin Talal, who was one of those detained, plunged 9.
Saudi-owned Al Arabiya television reported a new anti-corruption committee chaired by Prince Mohammed had detained 11 princes, four current ministers and tens of former ministers.
The Saudi equities index was down 1.
5 percent after eight minutes of trade.
Investment firm Kingdom Holding, owned by billionaire Prince Alwaleed bin Talal, who was one of those detained, plunged 9.
Saudi-owned Al Arabiya television reported a new anti-corruption committee chaired by Prince Mohammed had detained 11 princes, four current ministers and tens of former ministers.
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