Gulf Stock Markets Sink Alongside Oil Prices ...Middle East

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Gulf Stock Markets Sink Alongside Oil Prices
source : OILPRICE ( Middle East ) () 16
Equity markets in the Middle East opened lower on Wednesday and were in the red in the afternoon as the U.S. dollar rose and oil prices fell ahead of the Fed’s minutes on what’s next for interest rate hikes. The Saudi stock market was closed on Wednesday for a public holiday, but the stock indexes in Qatar, Abu Dhabi, and Dubai were all lower in early trade, dragged down by falling oil prices and a rising dollar. Since most Middle East currencies are pegged to the U.S. dollar, the Fed’s monetary policy usually has a direct impact…

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