Middle Eastern equity markets closed lower on Sunday after fresh comments from US President Donald Trump and Iran’s Foreign Minister cast doubt on a near-term deal to ease tensions in the Strait of Hormuz, Sky News reported via Ada Derana.
Bourses in Saudi Arabia, Qatar and Egypt — three of the region’s biggest weekend-trading exchanges — all retreated as investors recoiled from headlines that pushed back hopes of a diplomatic breakthrough. Sunday is the first trading session of the week in much of the Gulf, leaving the region disproportionately exposed to weekend political news.
Trump told reporters he was “running out of patience” with Iran, signalling Washington was unwilling to wait indefinitely for Tehran to accept terms tied to the lifting of US-led pressure on Hormuz shipping. Iranian Foreign Minister Abbas Araghchi countered that his government was “in doubt” about the US’s “seriousness” in reaching an agreement.
The selloff came after Iran’s market authority said the Tehran Stock Exchange would reopen on Tuesday for the first time since the latest round of conflict broke out, with officials saying the closure had been intended to prevent “panic-driven trading.”
The price moves track a broader risk-off shift in the region after oil settled at $109 on Friday on revived combat fears, and as Moody’s flagged that India and other Asian importers are expected to keep relying on bilateral corridors around Hormuz through 2026.
