Mar 1 • 07:03 UTC 🇶🇦 Qatar Al Jazeera

Regional Stock Markets Decline Following Attack on Iran

The regional stock markets opened lower due to the repercussions of a joint Israeli-American attack on Iran, with significant drops observed across various indices.

On Sunday, regional stock markets faced a decline influenced by the fallout from a joint Israeli-American attack on Iran. The Saudi market's main index plunged by 4.6% at the start of trading, although it managed to reduce losses to 2.3% as of the report's writing. Similarly, the Muscat market's primary index fell by 3% initially but later trimmed its decline to 2%.

In Oman, the commercial port of Duqm was targeted by two drones, adding to the regional tensions. Meanwhile, Egypt's leading stock market index experienced the largest drop among regional markets, falling by 5.44% before also softening its losses. The Egyptian Ministry of Petroleum and Mineral Resources announced it has enacted a series of proactive measures to secure local energy supplies, particularly natural gas and petroleum products, following Israel's announcement to halt gas exports to Egypt due to the attack's fallout on Iran.

In Qatar, the stock exchange and financial institutions halted operations Sunday in observance of Banking Day, while Kuwait announced a suspension of trading indefinitely due to the extraordinary circumstances. This situation underscores the interconnected nature of the Middle Eastern economies and how geopolitical events can significantly impact financial markets across the region.

📡 Similar Coverage