Gulf markets slide on US recession fears, regional tensions
Aug 5 (Reuters) -Major stock markets in the Gulf tumbled on Monday, tracking Asian shares lower on fears that the United States could be heading for recession, while concerns about a widening conflict in the region added to the worries.
The U.S. unemployment rate jumped to near a three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable to a recession.
The worryingly weak July payrolls report saw markets price in a 78% chance the Federal Reserve will not only cut rates in September, but ease by a full 50 basis points. FEDWATCH
Saudi Arabia's benchmark index .TASI declined 3.1%, dragged down by a 4.7% slide in aluminium products manufacturer Al Taiseer Group 4143.SE, while the country's biggest lender Saudi National Bank 1180.SE retreated 4% despite reporting a rise in quarterly profit.
The Qatari benchmark .QSI fell 2.5%, with all its constituents in negative territory including the Gulf's largest lender by assets Qatar National Bank QNBK.QA, which was down 2.3%.
Israel and the United States are bracing for a serious escalation in the region after Iran and its allies Hamas and Hezbollah pledged to retaliate against Israel for the killings of Hamas' leader Ismail Haniyeh and Fuad Shukr, a top military commander from Lebanese armed group Hezbollah, last week.
Dubai's main share index .DFMGI dropped 4.2%, weighed down by a 8.9% plunge in blue-chip developer Emaar Properties EMAR.DU.
In Abu Dhabi, the index .FTFADGI was down 2.7%.
Oil - a catalyst for the Gulf's financial markets - extended losses in a volatile session, as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world's largest oil producing region.
Reporting by Ateeq Shariff in Bengaluru; Editing by Mrigank Dhaniwala
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
