Stocks in the Gulf went into retreat as the US killing of Iran’s most prominent general reverberated across the region.
Geopolitical tension spiked after Iranian General Qassem Soleimani was killed in Iraq last week in a US drone attack.
President Donald Trump said late Saturday the US has identified 52 Iranian sites that it would hit if Tehran retaliates.
“Investors who were hoping for lower geopolitical tension in the Middle East, North Africa region in 2020 got their hopes dashed on the second day of the year,” said Mohammed Ali Yasin, chief strategy officer at Abu Dhabi-based Al Dhabi Capital Ltd. “2020 will continue to be a year of high geopolitical tensions in our region.”
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