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Stock markets fall in Middle East after US and Iran deal doubts
May 17, 202608:45 PM
Stock markets in the Middle East closed lower on Sunday after both US President Donald Trump and Iran’s Foreign Minister threw doubt on a deal to end the tension in the Strait of Hormuz.
Markets in Saudi Arabia, Qatar and Egypt all saw losses.
Trump said he was running out of patience with Iran, while Iranian Minister Abbas Araghchi said his government is “in doubt” of the US’s “seriousness” of coming to an agreement.
The stock market falls came after Iran announced it would reopen its stock market on Tuesday for the first time since the start of the latest conflict.
An official at the Iranian market authority said the market had been closed to prevent “panic-driven trading”.
Source: Sky News
-- Agencies
