Global Markets Decline Amid Middle East Tensions

Major stock markets in the Gulf experienced declines due to rising geopolitical tensions stemming from ongoing conflict in Gaza, with over 40,500 Palestinians reported killed and significant humanitarian crises reported. The Saudi benchmark index fell by 0.2%, affected by losses in key companies, while Dubai's main index dropped 0.4% as Emaar Properties shares fell. Oil prices also eased after a three-day surge, with concerns about supply disruptions in Libya and escalating Middle East conflicts keeping markets on edge. The U.S. labor market's health is under scrutiny as investors await new jobless claims data, amidst speculation about potential interest rate cuts from the Federal Reserve. Global equity markets struggled, influenced by rising oil prices and geopolitical unrest, with the S&P 500 and Nasdaq showing early gains before declining. Overall, market sentiment remains cautious as economic data and geopolitical developments unfold.