Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
In Abu Dhabi, the benchmark stock index fell 0.3%
Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
Markets will get a chance to assess minutes of the Feds' last meeting later in the day for further clues on when the U.S. central bank will start its easing cycle.
Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
Saudi Arabia has decided to postpone its flagship investment conference until next year, organizers confirmed in a statement on Monday, following deadly attacks which rocked the kingdom in recent weeks as the Middle East conflict widens, disrupting business.
Organisers insist the Future Investment Initiative (FII) will open in Riyadh on October 26. After a week of Houthi attacks on the capital's airport, few expect it to.
Prolonged war in the Middle East and further disruptions to energy production, shipping routes or critical infrastructure pose the biggest risk to economies in the Middle East and Central Asia, the International Monetary Fund said on Thursday.
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