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Top financiers on Wall Street expressed pessimism about the global economy at a conference in Saudi Arabia, citing the violent conflict between Israel and Hamas as a major factor. The event, known as "Davos in the Desert," is typically used to build relationships and broker deals with Saudi Arabia s largest companies and sovereign wealth fund. However, the escalation of the Middle East conflict overshadowed the conference. The financiers also discussed topics such as rising interest rates and the economic fallout of war. Geopolitical tensions and record debts are seen as significant threats to the world economy.

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