Mideast Stocks: Global mood pulls down most major Gulf markets | ZAWYA MENA Edition:
Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Federal Reserve on its interest rate plans for the year.
Major Gulf countries have their currencies pegged with the U.S. dollar and any decision by the Federal Reserve will directly impact currency performance of those countries.
Saudi's index fell 0.4 percent from the multi-year closing high it hit after entering FTSE Russell's emerging-market index on Monday.
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