Gulf stock exchanges went sharply down on Thursday affected by the escalating crisis in Yemen that has prompted Saudi Arabia and its regional allies to intervene.
Saudi Arabia and other Gulf states launched airstrikes against Houthi forces in Yemen.
Saudi Arabia’s stock market, the region’s biggest, was trading 1.08% lower, losing 95.93 points to stand at 8,772.1 Thursday.
Dubai stocks fell 3.85% to 3,302.3, Abu Dhabi’s market shed 1.81% to trade at 4,292.47 and Doha’s main index was down 1.77% at 11,302.55.
Oil markets also reacted to the situation in Yemen, with Brent crude climbing 6% to $59.71 a barrel.