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Mideast Stocks Weaken Amid Global Economic Worries and Lower Oil Prices

Middle East shares closed lower, weighed by global economic worries and weak oil prices .

Brent crude fell below $48 per barrel due to worries over China's economy.

In company news, Makkah Construction and Development declined after last week's haj disaster near Mecca, which killed hundreds of people, raised the possibility of new restrictions and development costs associated with the pilgrimage.

Saudi Arabia's main index slumped 1.4% to 7,337 points, Dubai dropped 0.8% to 3,554 points, Abu Dhabi declined 0.9% to 4,476 points, Qatar shed 1.4% to 1,275 points, Egypt lost 1.1% to 7,332 points, Kuwait slipped 0.2% to 5,751 points, Oman dipped 0.1% to 5,761 points and Bahrain fell 0.2% to 1,275 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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