Gulf Markets Decline Following Mixed US Job Report Impact
Sunday, 8 September 2024, 05:32
The recent mixed US job report provoked a negative reaction across Gulf markets, as major indices concluded the day lower. Following a drop in global shares, investors are adjusting their outlook on interest rates, leading to a cautious mood in financial trading.
Performance of Gulf Markets
Major stock exchanges reacted differently:
- Dubai Financial Market faced significant losses, dropping 1.5% by close.
- Saudi Stock Exchange saw a decrease of 1.2%, echoing concerns over future interest rate hikes.
- Other regional markets, including Kuwait and Abu Dhabi, also reported declines.
Investor Response to Job Figures
With the US labor market showing mixed signals, analysts speculate this could lead to a prolonged period of uncertainty.
- Job additions were below market expectations, stirring doubts about economic growth.
- Wage growth remained stagnant, creating worries about inflation control.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.