Financial markets in Arab countries have been significantly affected by economic and global variables, in addition to a set of internal challenges, which greatly affects confidence in financial markets and increases uncertainty. On the positive side, financial markets in Arab countries have witnessed significant technological progress, which has facilitated the trading of securities and increased transparency. The global economic and financial environment in general and the Arab environment in particular are currently exposed to continuous changes resulting from a set of economic and global fluctuations on a regular basis. In addition to a set of fluctuations in macroeconomic variables, which include (inflation rate, interest rate, exchange rates, gross domestic product). Which greatly affect economic and financial activity and also financial indicators in financial markets. Financial markets in Arab countries vary in size, diversity and development, reflecting differences in national economies and the challenges they face. Accordingly, solutions that suit some financial markets may not be suitable for others, and therefore each market must be dealt with individually according to its unique circumstances. The negative effects of the Russian-Ukrainian crisis and geopolitical tensions in the Middle East, including the Gaza, Lebanon and Yemen wars and political transformations in Syria, are expected to continue, in addition to the challenges facing navigation in the Red Sea. This has led to a slowdown in global economic growth and has had a negative impact on Arab financial markets in the coming period. It is necessary to take the necessary measures to address these challenges and enhance the stability of Arab financial markets. The results of the current study indicate that Arab financial markets have been exposed to the negative effects of economic and global variables, especially in light of global economic crises. This is through the negative impact on the stability of financial markets in Arab countries. The negative effects of these variables increase in light of the uncertainty about economic policies. According to the Arab Economic Outlook report issued by the Arab Monetary Fund, Arab economies are expected to grow by 5.0% in 2026, thanks to the increase in oil production and prices in global markets and the continuation of stimulus packages to support economic recovery. It is also expected that the growth rate of financial markets in Arab countries will decline to about 4.0% in 2025 due to the decline in global demand, the gradual withdrawal of stimulus packages, and the expected decline in commodity prices. Therefore, Arab financial markets need to strengthen their tools and procedures to protect against global economic turmoil.