UK, Germany, France press Saudi Arabia over Khashoggi disappearance

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Saudi Arabia's shares plunged as much as 7 percent on Sunday as investors anxious about deteriorating relations with the worldwide community after the disappearance of Saudi journalist Jamal Khashoggi.

During an interview with "60 Minutes" that aired Sunday night, President Donald Trump threatened "severe punishment" against Saudi Arabia if it was found to have been involved in the journalist's disappearance.

Jamal reportedly went to the Saudi Consulate located in one of Istanbul's upscale neighbourhood on September 28 to get documents to marry his Turkish fiancee Hatice Cengiz.

Turkish authorities have said he was killed there, a claim that Saudi Arabia has vehemently denied.

In the statement, the Egyptian Foreign Ministry Spokesman Ahmed Hafez stated that Egypt is, "following with concern the repercussions of the disappearance of Saudi journalist Jamal Khashoggi" and is "stressing the importance of revealing the truth about the investigation".

His remarks prompted Saudi Arabia to threaten to use its economic muscle to respond to any punitive measure but Rai al-Youm, a pan-Arab newspaper based in London, said the kingdom might have to ready itself for new "milking" by the US.

Saudi Arabia rejected threats of punishment, saying the kingdom would retaliate against any sanctions with "greater action", according to its official state news agency. "Imposing any type of sanctions on Saudi Arabia by the West will cause the kingdom to resort to other options", he said.

The Saudi warnings came after the country's stock market fell as much as 7% on Sunday amid fears of sanctions.

Doubts are also growing over whether British Trade Secretary Liam Fox will attend the Riyadh conference, the BBC reported Sunday citing diplomatic sources.

"I think we need to continue to evaluate the facts and we'll make that decision - I talked to Secretary Mnuchin about it last night, we'll be taking a look at it through the rest of the week", Pompeo, alongside President Trump, told reporters in the Oval Office on Saturday.

Turkish officials suspect the Washington Post columnist had been killed and dismembered inside the building.

However, he told CBS News on Saturday that the USA was investigating the case which he called "really bad and disgusting" and that "there will be severe punishment".

SoftBank Group Corp (9984.T) saw its shares drop on Monday as fallout from the disappearance of a Saudi journalist spread to the Japanese conglomerate, whose nearly $100 billion Vision Fund is almost half financed by Saudi Arabia.

Cengiz, a doctoral student at a university in Istanbul, wrote: "If the allegations are true, and Jamal has been murdered by the errand boys of Mohammed bin Salman, he is already a martyr".



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