Gulf Stock Markets Plunge as Iran War Jolts Region; Saudi Benchmark Falls 4% at Open

Gulf stock markets tumbled when trading began on Sunday, March 1, as U.S.-Israeli strikes on Iran and Iranian retaliatory attacks sent shockwaves through regional economies. Saudi Arabia's Tadawul All Share Index fell more than 4% at open before paring losses to close down 2.2%. Oman closed down 1.4% and Egypt lost 2.5%. Kuwait suspended trading entirely. Analysts warned GCC markets will remain under pressure as investors price in prolonged geopolitical risk.