Most Gulf bourses in red on Houthi attack and Hormuz shipping slump

Most Gulf stock markets closed lower on Tuesday, with Saudi shares posting the biggest losses, as a fresh Houthi attack and a sharp drop in shipping through the Strait of Hormuz heightened fears that the conflict could escalate further. Saudi Arabia’s benchmark index dropped 0.9%, weighed down by a 1.3% fall in Saudi Arabian Mining Company and a 0.6% dip in oil major Saudi Aramco. Yemeni officials said the Houthis struck the Khamis Mushait airbase in southern Saudi Arabia with missiles and drone

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