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A near-collapse of the Gulf stock markets after Washington withdrew from the nuclear deal
Gulf stock markets fell on Wednesday, following the US president's decision to withdraw from the nuclear deal with Iran.
"Washington's withdrawal from the deal and the re-imposition of sanctions on Iran have fueled investors' fears of further turmoil in the region, which may affect future market performance," Gulf market mediators said.
The decline in Gulf markets came despite strong oil gains. Brent crude for July delivery rose 2.7 percent to 76.87 dollars a barrel by 0930 GMT.
While US crude for June delivery rose 2.79 percent, or $ 1.93, to $ 70.99 a barrel, its highest level since 2014.
The Dubai bourse was the top loser after its general index fell 1.99 percent, with Emaar Properties down 4.3 percent, Dubai Islamic falling 1.95 percent and Dubai Investment falling 0.55 percent.
The Abu Dhabi market fell 0.2 percent, with Etisalat and Aldar down 1.5 percent and 1.93 percent respectively.
The Saudi bourse, the largest in the Arab world, fell as its benchmark index "TASI" fell 0.98 percent amid falling long leading stocks in the banking and basic materials sectors.
The Muscat bourse fell by 0.3 percent, while the Bahrain bourse fell 0.29 percent, while the Kuwait Stock Exchange outside the trench with the rise of the three main indexes, the main index rose by 0.37 percent. Finished
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