Saudi bourse falls on Fed worries; Qatar gains – Reuters
- Date: 19-Feb-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi bourse falls on Fed worries; Qatar gains – Reuters
Feb 19 (Reuters) - Saudi Arabia's stock market closed lower on Sunday after U.S. economic data stoked fears the Federal Reserve will act more aggressively to curb inflation.
Most Gulf Cooperation Council countries, including Qatar, Saudi Arabia and the United Arab Emirates have their currencies pegged to the U.S. dollar and follow the Fed's policy moves closely, exposing the region to a direct impact from monetary tightening in the world's largest economy.
The benchmark index (.TASI) in Saudi Arabia dropped 0.5%, dragged down by a 2.1% slide in Retal Urban Development Co (4322.SE) and a 0.9% decrease Al Rajhi Bank (1120.SE).
Select Sector 
Select Country 
