MIDEAST STOCKS-Gulf drops on oil, weak global trend; banks hit Abu Dhabi | Reuters:
All major Gulf stock markets fell on Tuesday with Abu Dhabi suffering its biggest one-day drop since June as bank shares weighed on the index.
Oil prices fell on Tuesday and were set to snap a four-day winning streak because of concern about rising global supplies. Meanwhile, world stock markets declined on a tech sell-off.
“Weak sentiment is clear across the region. It’s accompanied by geopolitical issues, the recent developments in Saudi (with the killing of journalist Jamal Khashoggi) and the possible outcome from that incident,” said Tariq Qaqish, managing director for asset management at Menacorp Financial Services in Dubai.
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