Wall Street closes sharply lower as chip stocks decline.

Wall Street is a historic financial district in Lower Manhattan, New York City, named after a wooden wall built by Dutch colonists in the 17th century to defend against British and Native American attacks. It became the epicenter of American finance in the late 18th and 19th centuries, hosting the New York Stock Exchange and numerous banks. Today, it is globally recognized as a symbol of capitalism and economic power.

Saudi Arabia is a country in the Middle East known for its vast deserts, rich oil reserves, and its role as the birthplace of Islam. Historically, it was unified in 1932 by King Abdulaziz Al Saud, and it is home to the two holiest cities in Islam, Mecca and Medina. Today, the nation is undergoing a major transformation through its Vision 2030 plan, aiming to diversify its economy and open up to international tourism.

The term “Kingdom” most commonly refers to a sovereign state ruled by a monarch, such as a king or queen. Historically, kingdoms have existed for millennia, from ancient Egypt and Babylon to medieval European realms like England and France. Today, many former kingdoms have evolved into constitutional monarchies or republics, though some, like the United Kingdom and Saudi Arabia, retain their royal traditions.