JEDDAH: Most Gulf stock indices retreated at close Tuesday. Saudi Arabia's Tadawul All Share Index lost 1.06 percent to close Tuesday at 6,295.49. Qatar's QE Index slumped 1.8 percent, the most since May 25, to 8,121.64 at the 12:30 p.m. close in Doha. Kuwait's gauge dropped 0.7 percent and Dubai's measure retreated 1.2 percent. Saudi Basic Industries Corp., the region's biggest petrochemicals maker, declined 2 percent to SR98.75, the lowest level since Nov. 3. Industries Qatar dropped the most since May 25, tumbling 3.3 percent to 126.7 riyals. It is the second-biggest petrochemicals maker in the Middle East. Oil prices dropped for a third day Tuesday with persistent worries about the global economy after China took additional steps to control inflation. Benchmark oil for January delivery lost 49 cents to settle at $81.25 a barrel on the New York Mercantile Exchange. Brent crude lost 71 cents to settle at $83.25 a barrel on the ICE Futures exchange. US stocks closed sharply down. Dow Jones Industrial Average slipped 142.21 points (1.27 percent) to 11,036.37 in closing trades. The S&P 500 index, a broader measure of the market, lost 17.11 points (1.43 percent) to 1,180.73. The tech-rich Nasdaq was down 37.07 points (1.46 percent) to 2,494.95.
