U.S. Allies’ Stock Rallies Dented in Middle East - Bloomberg:
"The stock rallies in Saudi Arabia, Dubai and Qatar, among the best in the world this year, are showing signs of faltering amid the escalating conflict between a U.S.-Arab coalition and Islamist militants.
The Saudi Tadawul All Share Index (SASEIDX) slumped the most since August 2013 during trading yesterday as investor concern mounted that Gulf Cooperation Council members aiding U.S. airstrikes on the Islamic State in Syria may be at risk of retaliatory attacks. The measure finished at the lowest in a month. Dubai’s DFM General Index dropped 1.2 percent, the most in two weeks, while Qatar’s QE Index slid for a fourth day.
The losses curb gains this year that have put the three gauges among the 10 best performers in dollar terms out of more than 90 tracked globally by Bloomberg. Dubai’s is the second-best, having advanced about 50 percent in the period. The United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Jordan all joined the first wave of U.S.-led airstrikes against the Islamic State in Syria Sept. 23."
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