Growing threat of western intervention in Syria hits Gulf stock markets

Описание: (28 Aug 2013) The growing likelihood of Western military action against Syria pummelled global stock markets on Wednesday and sent the price of oil soaring.
Fears that the U.S., Britain and other countries are gearing up to confront Syria over its alleged use of chemical weapons against civilians rose after Defence Secretary Chuck Hagel said the U.S. military stands ready to strike against Syria if President Barack Obama gives the order.
In Dubai, United Arab Emirates domestic stock markets have taken a beating.
Markets opened this morning down 5 percent following a decline of 7 percent at closing on Tuesday.
Analysts attribute the decline of markets in the Gulf to a worried investor sentiment effected by events in the region.
"There is not going to be any disruption in business here, it doesn't change the economic fundamentals, however it does impact on investor sentiment in a regional sense," said analyst, James Fallon of Control Risks, an independent Global Business Consultancy in Dubai.
For now investors in the Arabian Peninsula wait patiently, monitoring the extent of Western intervention which has sent chills throughout domestic markets.
"So the main signpost that investors are waiting for sentiment-wise, is just the extent of intervention assuming it is limited then we should probably see a quick turnaround," Fallon said.

Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter:   / ap_archive  
Facebook:   / aparchives   ​​
Instagram:   / apnews  


You can license this story through AP Archive: http://www.aparchive.com/metadata/you...