Middle East markets dip as investors monitor Iran developments
Middle East stock markets closed lower on Monday as rising tensions between the United States and Iran unsettled investors, amid concerns that a fragile ceasefire could collapse and disruptions in the Strait of Hormuz would persist.
Regional sentiment weakened after reports that Tehran rejected further negotiations with Washington, while the seizure of an Iranian cargo vessel by the U.S. added to uncertainty ahead of the ceasefire’s expected expiry.
Dubai’s main index fell 2.1%, ending a four-session rally, led by declines in property and transport stocks. Emaar Properties dropped 2.3%, while Salik Company fell 2.9%. Air Arabia closed 3% lower.
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Muhammad Ali Bandial