Skip to main content

Gulf stock markets mixed after US signals higher interest rates

The Dubai Financial Market fell to close the week, while the stock exchanges in Saudi Arabia, Qatar and other Gulf states went up.
Dubai financial

The stock exchange in the United Arab Emirates’ largest city fell today. 

The Dubai Financial Market closed down 0.4 percent, according to stock data from Bloomberg. Reuters reported that the drop was due to the US Federal Reserve signaling a rise in interest rates in the near future. Among major companies listed on the exchange, the Emirates NBD Bank’s stock fell 1.1 percent, while the real estate firm Emaar Properties dropped 0.8 percent, according to Reuters. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.