Most stock markets were closed throughout the Gulf on Monday, which led to the escalation of concerns about US President Donald Trump’s aggressive definition and general criticism of the Federal Reserve Chairman Jerome Powell.
Last week, Trump intensified pressure on Powell, pushing speculation about the potential removal of the Federal Reserve. The move raised renewed concerns about the independence of the US Central Bank-which is widely considered the most influential in the world-and raised questions about the long-term stability of the US financial system.
In the Kingdom of Saudi Arabia, the Measurement Index (.TASI) decreased by 0.7 %, led by a 1 % decrease in the shares of the Saudi ARAMCO giant (2222.se) and 5.5 % of the decrease in Dar Al Arkan Real Estate Development (4300.se). On Monday, ARAMCO announced that it had signed a joint development agreement with the Chinese car maker BYD to explore cooperation in the new energy car sector.
The main stock index in Dubai (.DFMGI) won the regional trend, increasing by 0.2 %, as the EMAAR Properties (Emar.Du) developer increased by 0.8 %.
On the other hand, the Abu Dhabi Index (.ffadgi) decreased by 0.1 %, while the Qatari standard (.qsi) threw 0.3 %, and pressure at a decrease of 0.9 % at Qatar National Bank (QNBK.QA), the largest lender in the Gulf.
Oil prices-associated with the performance of the Gulf market-by more than 2 %, as optimism over the possible progress in the US negotiations of Iran. However, investors have been cautious amid fears that customs tariffs and continuous economic friction can reduce the global demand for fuel.
