Saudis reject threats as stocks plunge after Trump remarks

Saudi Arabia on Sunday threatened to retaliate for any sanctions imposed against it after President Donald Trump said the oil-rich kingdom deserves “severe punishment” if it is responsible for the disappearance and suspected murder of Washington Post contributor Jamal Khashoggi.

The warning from the world’s top oil exporter came after a turbulent day on the Saudi stock exchange, which plunged as much as 7 percent at one point.

The statement was issued as international concern grew over the writer who vanished on a visit to the Saudi Consulate in Istanbul over a week ago. American lawmakers threatened tough punitive action against the Saudis, and Germany, France and Britain jointly called for a “credible investigation” into Khashoggi’s disappearance.

Turkish officials have said they fear a Saudi hit team killed and dismembered Khashoggi, who wrote critically of Saudi Crown Prince Mohammed bin Salman. The kingdom has called such allegations “baseless” but has not offered any evidence Khashoggi ever left the consulate.

Khashoggi disappeared over a week ago while on a visit to the Saudi Consulate in Istanbul.

Already, international business leaders are pulling out of the kingdom’s upcoming investment forum, a high-profile event known as “Davos in the Desert,” and the sell-off on Riyadh’s Tadawul stock exchange showed that investors are uneasy.

Andrew Medichini / Associated Press A view of St. Peter’s Square during a canonization ceremony, at the Vatican on Sunday. Pope Francis has praised two of the towering figures of the 20th-century Catholic Church as prophets who shunned wealth and looked out for the poor as he canonized the modernizing Pope Paul VI and martyred Salvadoran Archbishop Oscar Romero. Francis declared the two men saints at a Mass in St. Peter’s Square before tens of thousands of pilgrims, a handful of presidents and some 5,000 Salvadoran pilgrims who traveled to Rome.