Most stock markets in the Gulf ended lower on Monday as U.S. President Donald Trump's aggressive tariffs and his criticism of the Federal Reserve's chief continued to erode investor confidence.
Last week, Trump attacked Fed Chair Jerome Powell, fuelling speculation about his potential removal and raising questions about the U.S. central bank's autonomy and the country's financial stability.
The Fed's credibility as the world's most powerful central bank rests largely on its historic independence to act free from political influence.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.7%, hit by a 1% slide in oil giant Saudi Aramco (2222.SE), opens new tab and a 5.5% slide in Dar Al Arkan Real Estate Development (4300.SE), opens new tab.
Aramco said on Monday it signed a joint development agreement with Chinese electric vehicle manufacturer BYD to explore collaboration in the development of new energy vehicle technologies.
Dubai's main share index (.DFMGI), opens new tab, however, added 0.2%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 0.8%.
In Abu Dhabi, the index (.FTFADGI), opens new tab eased 0.1%.
Oil prices - a catalyst for the Gulf's financial markets - fell more than 2% on signs of progress in talks between the U.S. and Iran, while investors remained concerned about economic headwinds from tariffs which could curb demand for fuel.
The Qatari index (.QSI), opens new tab lost 0.3%, with the Gulf's biggest lender, Qatar National Bank (QNBK.QA), opens new tab, declining 0.9%.
The Qatari index (.QSI), opens new tab lost 0.3%, with the Gulf's biggest lender, Qatar National Bank (QNBK.QA), opens new tab, declining 0.9%.
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