Gulf stock markets mixed after US signals higher interest rates

Gulf stock markets mixed after US signals higher interest rates

us,rates,gulf,interest,Gulf
Gulf

Gulf stock markets mixed after US signals higher interest rates

The stock exchange in the United Arab Emirates’ largest city fell today. 

The Dubai Financial Market closed down 0.4 percent, according to stock data from Bloomberg. Reuters reported that the drop was due to the US Federal Reserve signaling a rise in interest rates in the near future. Among major companies listed on the exchange, the Emirates NBD Bank’s stock fell 1.1 percent, while the real estate firm Emaar Properties dropped 0.8 percent, according to Reuters. 

Interest rates refer to the amount of interest owed in a given period on money that is loaned, borrowed or deposited in a bank. The chairman of the US Federal Reserve Jerome Powell told a US Senate committee on Jan. 11 that the monetary institution is likely to raise interest rates in March, due to rising inflation in the United States. 

Check the history on the topic
Vote to feature