Most Gulf bourses turn south as Ukraine crisis deepens | Reuters

Most Gulf bourses turn south as Ukraine crisis deepens | Reuters

Most stock markets in the Gulf fell in early trade on Tuesday, tracking global shares, as tensions between Russia and Ukraine escalated after Moscow ordered troops into two breakaway regions in eastern Ukraine.

Moscow's move drew international condemnation and U.S. officials said Washington in coordination with allies is planning to announce new sanctions on Russia.

U.S. President Joe Biden has issued an executive order to halt U.S. business activity in the breakaway regions and ban import of all goods from those areas. read more

Dubai's main share index (.DFMGI) dropped 1.1%, as most of the stocks in the index were in negative territory including bluechip developer Emaar Properties (EMAR.DU), which retreated 2.2%.

The United Arab Emirates' Interior Ministry extended on Monday a decision to ground all private drones and light sports aircraft used for recreational purposes until further notice, state news agency WAM said. read more

The ministry's original decision was announced in January, following a deadly attack on the UAE by Yemen's Houthis. read more .

In Abu Dhabi, the index (.ADI) eased 0.1%, hit by a 0.3% fall in the country's largest lender First Abu Dhabi Bank (FAB.AD).

On the other hand, crude prices jumped more than $2 on supply disruption worries as tensions between top energy exporter Russia and Ukraine escalated.

The Qatari index (.QSI) dropped 0.5%, weighed down by a 1% fall in Islamic lender Masraf Al Rayan (MARK.QA).

The Saudi Arabian market was closed for a public holiday on Tuesday.