Most stock markets in the Gulf fell in early trade on Monday.
Saudi Arabia's benchmark index. TASI eased 0.1 percent, hit by a 0.6 percent fall in Retail Urban Development Co 4322.SE and a 1.1 percent decline in the kingdom's biggest lender Saudi National Bank 1180.SE.
However, Yanbu National Petrochemicals Company 2290.SE gained 0.8 percent after it proposed half-yearly dividend of 1.25 Riyal.
In Abu Dhabi, the index. FTFADGI dropped 0.5 percent, on course to extend losses for a fourth session, hit by a 1.6 percent slide in the United Arab Emirates' largest lender First Abu Dhabi Bank FAB.AD.
Last week, the MSCI index for EM equities. MSCIEF fell 1 percent, its second week of declines as global risk-taking waned after better-than-expected U.S. economic data on Thursday fanned fears of aggressive monetary policy tightening in the world's largest economy.
Most Gulf Cooperation Council countries, including Saudi Arabia, the UAE and Qatar, have their currencies pegged to the U.S. dollar and follow the Fed's policy moves closely, directly exposing the region to monetary tightening in the world's largest economy.
The benchmark index. QSI in Qatar - among the world's top exporters of liquefied natural gas - dropped 0.9 percent, as most of the stocks on the index were in negative territory including Qatar Islamic Bank QISB.QA, which was down 1.5 percent.
Dubai's main share index. DFMGI, however, rose 0.5 percent, helped by a 1.3 percent rise in sharia-compliant lender Dubai Islamic Bank DISB.DU.