Saudi Arabia's stock market closed lower on Sunday after U.S. economic data stoked fears the Federal Reserve will act more aggressively to curb inflation.
An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014stoked fears the Federal Reserve will act more aggressively to curb inflation.
Most Gulf Cooperation Council countries, including Qatar, Saudi Arabia and the United Arab Emirates have their currencies pegged to the U.S. dollar and follow the Fed's policy moves closely, exposing the region to a direct impact from monetary tightening in the world's largest economy.
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