Gulf markets fall on geopolitical tensions

DUBAI: Most stock markets in the Gulf closed lower on Wednesday, on escalating geopolitical friction in the region, and as investors remained cautious ahead of US Federal Reserve’s decision.

Yemen’s Iran-aligned Houthi group said on Wednesday it would keep up attacks on US and British warships in the Red Sea in what it called acts of self defence, stoking fears of long-term disruptions to world trade.

The Houthis, who control the most populous parts of Yemen, have been attacking ships in and around the Red Sea, saying they are acting in solidarity with Palestinians in the Gaza war.