Middle East Markets Drop Ahead of Fed Decision and Israel-Hamas Conflict

Major Gulf markets like Saudi Arabia, Dubai, and Abu Dhabi fell ahead of the Fed policy decision.

Israel-Hamas conflict weighed on investor sentiment in the region. Israel said it killed a Hamas commander in Gaza, killing over 50 Palestinians.

Saudi benchmark index fell, dragged by Saudi Aramco and Al Rajhi Bank. But newly listed SAL Saudi Logistics jumped 30% in debut.

Dubai's index dropped, pressured by top lender Emirates NBD and developer Emaar Properties.

Abu Dhabi's index eased, with Emirates Telecommunications lower despite higher quarterly profit. But Qatar's index rose, helped by petrochemical maker Industries Qatar.