Stock markets across the Gulf region fell sharply as geopolitical tensions escalated following Israeli airstrikes in Gaza that killed over 400 people. The strikes disrupted nearly two months of relative calm since a ceasefire began, raising concerns about further instability. Oil prices initially surged due to the renewed conflict but later retreated as broader economic worries and concerns about a global crude glut weighed on the market. Investors remain cautious as the situation develops, with potential implications for regional economies and global energy markets.
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Most Gulf markets retreat on geopolitical tensions
Most stock markets in the Gulf ended lower on Wednesday amid escalating geopolitical tensions in the region after Israeli airstrikes in Gaza killed over 400 people, disrupting nearly two months of relative peace since the ceasefire began.
