Most stock markets in the Gulf fell on Sunday with fears about sharp U.S. interest rate hikes and the prospect of weaker oil demand weighing on sentiment.
Crude prices, a key catalyst for the Gulf's financial markets, posted a second weekly decline on Friday amid fears that rising COVID-19 cases in top oil importer China may squeeze demand.
Meanwhile, Gulf Cooperation Council countries are in the firing line of Federal Reserve policy moves as five have their currencies pegged solely to the dollar and broadly follow the U.S. monetary policy moves.
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