Stock markets across the Gulf region retreated on Monday as geopolitical tensions intensified, with investors reacting to reports that Iran had sealed key shipping routes.
The renewed hostilities have cast a shadow over regional equities, extending a downward trend that began earlier in the week.
5%, reflecting broader risk aversion among traders exposed to the region.
Saudi Arabia’s benchmark TASI index eased 0.2%, weighed down by energy sector weakness.
Oil major Saudi Aramco fell 0.5%, reflecting broader risk aversion among traders exposed to the region.
The decline marks a continuation of the pressure seen in Gulf markets, which closed lower on Thursday as investors digested the escalating conflict between the United States and Iran.
The market move comes amid a wider flight to safety in global financial markets.