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Mideast Stocks Slump on Lower Oil, U.S. Election Risk: Inside EM

U.A.E. Financial Markets Following Veil Lift on Debt
Photographer: Christopher Pike/Bloomberg
Updated on

Most Middle East equities fell as traders reduced risk before the U.S. election, and amid mounting concerns over pandemic lockdowns and declining oil prices.

Kuwait’s Premier Market Index dropped 2.1%, the biggest loss in the region, followed by a 1.6% retreat in Dubai. Gauges in Abu Dhabi, Riyadh, Doha, Muscat and Cairo also fell, while Tel Aviv’s benchmark edged higher.