Gulf Arab markets fell on Wednesday as a third day of unrest in Bahrain raised political risk premiums in the world's top oil exporting region.
"There is definitely some panic, as you can see in the markets today," said M.R. Raghu senior vice president for research at Markaz in Kuwait. "The amount of uprising we are seeing in the Middle East is a serious concern for foreign investors. They are likely to pull more money from the markets to be on the safer side."
Thousands of Shi'ite demonstrators, inspired by popular revolts that toppled rulers in Tunisia and Egypt, poured into Bahrain's capital to mourn for a second protestor killed in clashes this week, while the cost of insuring Bahrain's debt against default rose to a new 18-month high.
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