Saudi Arabia's benchmark Tadawul All Share Index (TASI) fell 1.4 percent, or 117 points, to 8,408 points within two hours of trading on Monday.
Nearly 58 million shares worth SAR 2.1 billion were exchanged, with losers outweighing gainers 14:161.
Blue chip SABIC was down 1.3 percent to SAR 109.20, while banking major Al Rajhi shed 1.2 percent to SAR 68.40.
Walaa was the top decliner, falling 4.6 percent to SAR 23.60.
JAZADCO was the top gainer, rising 6.2 percent to SAR 13.
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