November 08, 2020

Gulf markets mixed as Biden win is no 'make or break' for regional economies

Featuring Rachel Ziemba

Source: Reuters

Journalist Davide Barbuscia

Gulf stock markets were muted on Sunday after Joe Biden’s U.S. election victory, reflecting expectations that his administration will not bring radical changes to the region’s struggling economies.

In Saudi Arabia, the stocks index declined 0.2% at market open but posted some gains in early trading and was up 0.3% at 0725 GMT. Other Gulf markets were mixed.

Expectations of moderate oil prices and a weaker U.S. dollar under a Biden administration could add pressure on Gulf government’s budget deficits, analysts say, accelerating the need for reforms.

Read the full story and more fromReuters.

Authors

  • Rachel Ziemba

    Adjunct Senior Fellow, Energy, Economics, & Security Program

    Rachel Ziemba is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). Her research focuses on the interlinkages between economics, finance and security i...