Wall Street sell-off spreads to Europe, rattling Gulf investors

European stock markets fell Friday after a sharp Wall Street sell-off, driven by stronger-than-expected US jobs data that raised concerns about interest rates and global equities. The uncertainty stems from doubts over high tech valuations and AI investment profitability. US employers added 165,000 jobs in October, far exceeding forecasts of 65,000, with unemployment at 4.1 percent and wages up 0.4 percent. The resilient labor market may allow the Federal Reserve to keep restrictive monetary policy, pressuring tech shares and broader risk appetite. Gulf investors face tighter financing conditions due to dollar pegs, potentially affecting borrowing costs and property. However, regional markets have less tech exposure, with oil prices and Fed signals key factors to watch amid a possible broader selloff.