The U.S. Labor Department reported that employment increased less than expected in August while the jobless rate dropped as expected, suggesting an orderly slowdown in the labor market.
Monetary policy in the six-member Gulf Cooperation Council (GCC), including the UAE, is usually guided by the Fed's policy decisions because most currencies in the region are pegged to the dollar.
Monetary policy in the six-member Gulf Cooperation Council (GCC), including the UAE, is usually guided by the Fed's policy decisions because most currencies in the region are pegged to the dollar.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 1%, weighed down by a 0.8% decrease in aluminium products manufacturer Al Taiseer Group (4143.SE), opens new tab and a 1.9% fall in Al Rajhi Bank (1120.SE), opens new tab.
Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab retreated 0.9%.
Oil prices - a catalyst for the Gulf's financial markets - settled 2% lower on Friday, with a big weekly loss following the U.S. jobs data, which outweighed price support from a delay to supply increases by OPEC+ producers.
The Qatari benchmark (.QSI), opens new tab fell 0.6%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab slid 2.4%, as most of its constituents were in negative territory including top lender Commercial International Bank (COMI.CA), opens new tab, which was down 2.6%.
Egypt's central bank left its overnight interest rates on hold on Thursday, saying inflation pressures had subsided but that economic growth had softened.
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