Mideast Markets Fall, With Kuwait Leading Losses After Downgrade

Middle Eastern stock markets fell in early trading on Sunday, with Kuwait’s main index leading losses after S&P Global Ratings cut the government’s credit rating last week.

The Boursa Kuwait Premier Market Price index falls as much as 3.6%, with Kuwait Finance House and National Bank of Kuwait dropping almost 4%.

Kuwait was downgraded one level to AA-, with S&P maintaining a stable outlook.

Gauges in Dubai, Abu Dhabi and Oman decline as much as 1.5%.