Latest News

Slow trading in major Gulf markets due to US tariff concerns

Slow trading in major Gulf markets due to US tariff concerns

The Gulf stock markets were characterized by low volume on Tuesday, with prices falling as investors awaited clarification of the U.S. threat to impose reciprocal tariffs early next month.

On Monday, Donald Trump announced that automobile tariffs will be implemented soon. He also said, however, that some of the levies he had threatened would not be imposed until April 2, indicating a degree of flexibility in this matter.

Trump's tariff policy is expected to have a negative impact on global economic growth. It could also trigger more trade tensions and increase inflation.

Saudi Arabian Mining Company lost 1.7%. Al Rajhi Bank rose 1.5%.

Dubai's main stock index fell by 0.1% in the United Arab Emirates. Dubai Islamic Bank shares fell 0.8%. Abu Dhabi's index fell 0.1%.

Oil prices, a key factor in the Gulf's financial market, were not much changed. Markets weighed the impact of U.S. Tariffs on countries who buy Venezuelan oil and the uncertain outlook for demand globally.

Industries Qatar, a petrochemical manufacturer, fell 1%.

(source: Reuters)