On Monday, U.S. President Donald Trump said automobile tariffs are coming soon, but also indicated that not all of his threatened levies would be imposed on April 2, suggesting some degree of flexibility on the matter.
Trump's tariff policies are widely expected to contribute to slowing global economic growth, trigger further trade tensions, and could drive up inflation.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.6%, hit by a 1.6% fall in Al Rajhi Bank (1120.SE), opens new tab and a 3.7% decrease in Saudi Arabian Mining Company (1211.SE), opens new tab.
The Saudi bourse continued its uncertain movements at its support level. While sector performance remained mixed, the energy market showed signs of a recovery, following similar movements in oil prices during recent sessions, said George Pavel general manager at Naga.com Middle East.
"This recovery could potentially boost overall market sentiment if sustained."
Oil prices - a catalyst for the Gulf's financial markets - rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains.
Oil giant Saudi Aramco (2222.SE), opens new tab gained 0.6%.
In Abu Dhabi, the index (.FTFADGI), opens new tab eased 0.3%, with Multiply Group (MULTIPLY.AD), opens new tab retreating 4.2%. The index was little changed at closing in the last two sessions and down in the two trading days before that.
The rebound in oil prices may eventually have a beneficial effect on the Abu Dhabi market, said Pavel.
Dubai's main share index (.DFMGI), opens new tab, however, finished flat.
The Qatari benchmark (.QSI), opens new tab declined 0.3%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab losing 1.2%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab closed 0.2% lower, weighed down by a 0.2% fall in Commercial International Bank (COMI.CA), opens new tab.
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