The Tadawul all indexes reference share fell 6 8pc 5,539 points, with Saudi Arabia Basic Industries, manufacturer of petrochemicals most, 7 8pc of landslide.
The index has lost 20pc since reaching its 2010 high, taking into bear market territory.
"Reports of certain arrests of a cleric caused gout." It is now a great fear of contagion in Saudi, said Haissam Arabi, Chief Executive and Manager Gulfmena Alternative Investments funds. "However, things are not all in clear fact that continuing the fall in stocks." There is no clear answer at this time. »
Saudi authorities detained a clerc of Shi'ite in the Eastern Province after he called for a constitutional monarchy and of ending corruption and discrimination, human rights activists said Reuters Tuesday.
Minority of Shi'ite of Arabia, believed be 10pc-15pc of the Saudi population, 18 m has long complained of discrimination, a charge denied by the authorities.
"It is sell all levels." There are several rumors out there and it seems that investors of all the class and type are drawing a line on the markets, says Nadi Bargouti, head of asset management at the Shu'a Capital in Dubai.
"No single person, without unique portfolio can move markets to this extent." It is a complete shock. »
On 17 February, the Prince Talal Bin Abdul Aziz Al Saud, Member of the Royal family of Saudi Arabia, said that the Kingdom may see protests unless King Abdullah proposes reforms, according to the BBC Arabic TV.
The King has increased spending on housing by riyals (£ 7bn) on 23 February. It has increased the budget of the social security of billion riyals, ordered the creation of 1 200 jobs and make a cost of living allowance 15pc permanent employees of the Government.
Saudi Arabia is the world's biggest exporter of oil and the largest Arab economy. Gross won 0 9pc $97.81 US per barrel to 8 pm in e-commerce on the New York Mercantile Exchange.
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