[ad_1]
Business
Rate hikes should continue to fight inflation, further reducing risk appetite, Fed
DUBAI (Web Desk) – Stocks in the United Arab Emirates (UAE) closed slightly lower after U.S. consumer statistics reignited fears of a global recession.
Federal Reserve policymakers said interest rate hikes should continue to fight inflation, further reducing risk appetite.
Industrial and energy companies continued to weigh on Abu Dhabi’s stock index, which edged down 0.04%, its third straight day of losses.
Oil, the main driver of Gulf financial markets, was up $0.69, or 0.80%, at $86.85 a barrel by 1130 GMT.
Shares in state-run utility DEWA fell 1.2%, dragging Dubai’s main index down 0.02%.
‘; var i = Math.floor(r_text.length * Math.random()); document.write(r_text[i]);
[ad_2]
Source link