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Most Gulf markets fall in early trade

1 min

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.

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