MIDEAST STOCKS-Most major Gulf stocks slide as virus fears grip markets | Nasdaq

MIDEAST STOCKS-Most major Gulf stocks slide as virus fears grip markets | Nasdaq:

Most major Gulf markets extended losses on Tuesday, with Qatar falling the most as concerns about the coronavirus spreading out of China weighed on investor sentiment.

The coronavirus death toll climbed to seven in Italy on Monday and several Middle East countries were dealing with their first infections, feeding worries it could turn into a pandemic.

The Qatari index .QSI extended losses from the previous session to open 1.4% down. Qatar Islamic Bank QISB.QA slid 4.9%, while Mesaieed Petrochemical MPHC.QA retreated 4%.

Saudi Arabia's benchmark index .TASI retreated a further 0.8%, a day after it saw its biggest decline in more than nine months. Oil giant Saudi Aramco 2222.SE eased 0.6%, while Savola Group 2050.SE decreased 2.7%.