saudi arabian stocks have slipped from being among global pacesetters in the first half to ending 2022 as laggards thanks to a sharp swing in oil prices and investors are mixed on the outlook for 2023 riyadh’s main tadawul all share index is the sixthworst performing gauge among 92 tracked by bloomberg in the second half of the year in dollar terms and on track for its biggest annual decline since 2015 after ranking in the top 12 markets by the end of june saudi stocks were downgraded by morgan stanley five months later