Gulf markets in red ahead of US inflation data

DUBAI: Most stock markets in the Gulf ended lower on Tuesday, ahead of US inflation data later in the session, which could provide an indication of whether global interest rates might start to fall.

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed decisions as most regional currencies are pegged to the US dollar.

US Federal Reserve Chair Jerome Powell and other policymakers have said they are still not sure that interest rates are high enough to tame inflation.