Gulf Stock Markets Plummet After Us-Iran Military Escalation

On March 1, 2026, the situation in the Middle East deteriorated further as Gulf equities plummeted following the U.S. and Israeli strikes on Iran, which resulted in Iran's retaliation that included missile attacks on U.S. targets in Gulf cities. Notably, Boursa Kuwait suspended trading due to the 'exceptional circumstances' following these escalations. Witnesses reported blasts in Dubai and Doha, leading to significant disruptions at major regional airports, including Dubai, marking one of the largest interruptions to global aviation in years. The benchmark index in Saudi Arabia, while initially down 4.6%, managed to pare losses to 2%, with major stocks like Al Rajhi Bank and Saudi National Bank experiencing declines (Business Recorder).