Gulf Stocks Drop as U.S.-Iran Tensions Dominate: Inside EM

Stock markets in the Gulf declined as tension between the U.S. and Iran kept investors on high-alert.

President Donald Trump said the U.S. will impose major new sanctions on Iran Monday, days after he abruptly called off a plan for airstrikes against the Islamic Republic, but gave no additional detail. The United Arab Emirates civil aviation authority ordered carriers to avoid risky air space, with Emirates and Etihad Airways re-routing flights away from areas of possible conflict.