(CNN) -- The Middle East may be awash with cash, but that didn't stop the region's stock markets being swept up in the global gloom that engulfed investors around the world this week. Traders at the Kuwait Stock Exchange in happier times -- this week Kuwait's main index fell four percent. The region's share markets tumbled in a Mexican wave of selling that started in the U.S. and quickly spread to Asia and Europe. In the Middle East, the Saudi stock market suffered some of the biggest falls; dropping ten percent in Tuesday's trade, its largest one-day slump on record.
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Mideast indices swept up in global stock sell-off as foreign investors bail out
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Gulf central bankers follow lead from U.S. Federal Reserve, cut interest rates
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Sell-off expected to create buying opportunities for sovereign wealth funds
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Maratheftis: Flow of funds will help correct current global imbalance
@placeholder and the Middle East are becoming richer and more important global powers.