Gulf stocks slip as banks fall amid Yemen fighting and Iran war talks
Major Gulf indexes slipped early Thursday as bank stocks led losses amid fighting in Yemen and uncertainty over talks to end the Iran war.
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what happened
Major Gulf stock markets opened lower on Thursday, with bank shares leading the decline as fighting intensified in Yemen and doubts about peace efforts in the Middle East weighed on investor mood. According to Reuters, Yemeni government forces said Houthi fighters struck Aden airport a day earlier, even though the group had urged people to leave the site.
A Saudi-led coalition said it destroyed a ballistic missile fired by the Houthis toward the kingdom's eastern region. Saudi Arabia's index eased 0.2%, with Saudi National Bank down 0.9%. Dubai's index fell 0.5%, Abu Dhabi's lost 0.6%, and the Qatari index eased 0.1%.
why it matters
Banks carry the largest weight in Gulf indexes, so their weakness drags on the whole regional market. Investors are tracking the Yemen fighting and Qatari mediation in the conflict with Iran, since any shift in the talks could change risk appetite across regional equities.
market impact
Gulf bank stocks: pressure from the Yemen fighting and the wider Middle East war
- Gulf bank stocks pressure down — escalation in Yemen and doubts over peace talks weigh on investor sentiment
instruments
sources
- Gulf bourses slip as banks drag on Yemen, Iran war worries — Reuters, 29 October 2026 at 08:44 UTC
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