MIDEAST STOCKS-Major Gulf markets fall, following global shares lower | Nasdaq

MIDEAST STOCKS-Major Gulf markets fall, following global shares lower | Nasdaq:

Major Gulf stock markets retreated on Thursday, mirroring a decline in global shares and oil prices, as investors remained anxious about the spread of a new flu-like virus in China.

Deaths from China's new coronavirus rose to 17 on Wednesday, with more than 540 cases confirmed, leading Wuhan, the city at the centre of the outbreak, to close transportation networks and urge citizens not to leave as fears rose of the contagion spreading.

Brent crude futures LCOc1 were down 82, or 1.3%, to $62.39 a barrel by 0400 GMT, and earlier dropped to the lowest since Dec. 4, after falling 2.1% the previous session.

Saudi Arabia's benchmark index .TASI dropped 0.7%, led by a 3.2% slide in Saudi Telecom 7010.SE , a day after it reported a 22% plunge in fourth-quarter net profit.