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Gulf bourses slide as Hormuz tensions and houthi strikes rattle traders
Most Gulf bourses closed lower on Sunday, with traders weighing the disruption in the Strait of Hormuz alongside Houthi attacks on Saudi Arabia. The Iranian navy has confirmed that a Saturday mine strike in the Strait of Hormuz set three oil tankers ablaze, state media reported. Saudi Arabia’s benchmark index dropped 0.7%, with the country’s biggest lender by assets Saudi National Bank losing 2.3%. On Sunday, the Saudi-led coalition confronting the Houthis announced that it had downed two ballistic missiles fired at the capital, Riyadh, along with three drones over the kingdom’s oil-rich Easte...
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