November 3 (Reuters) - Major Gulf stock markets fell in early trading on Monday, weighed down by disappointing corporate earnings results and reduced expectations that the Federal Reserve (the U.S. central bank) will cut interest rates in December.

The Federal Reserve cut interest rates by a quarter of a basis point for the second time this year on October 29, but comments from Fed Chairman Jerome Powell that leaned toward tightening monetary policy cast doubt on the possibility of further cuts during 2025.

The CME FedWatch tool showed traders now pricing in a 71 percent probability of an interest rate cut in December, down from more than 90 percent earlier.

US monetary policy moves have a significant impact on Gulf markets, as most of the region's currencies are pegged to the dollar.

The main Saudi market index fell 0.3 percent, impacted by a 5.6 percent drop in shares of renewable energy company ACWA Power after the company failed to meet quarterly profit expectations.

Shares of Saudi Basic Industries Corp. (SABIC) fell 2.2 percent, extending losses a day after the company announced a sharp drop in third-quarter profits.

Shares in oil giant Aramco lost 0.7 percent.

Dubai's main index fell 1 percent, and shares of Emaar Properties dropped 1.8 percent.

Abu Dhabi's main index fell 0.3 percent, weighed down by a 2.1 percent drop in Aldar Properties shares.

Aldar's stock plunged 3.8 percent in the previous session after a media report indicated that Alpha Abu Dhabi intends to sell part of its stake in Aldar Properties.

Qatar's main stock index fell 0.2 percent, weighed down by a 1.1 percent drop in shares of Qatar National Bank, the largest bank in the Gulf by assets.

(Prepared by Badour Al-Saoudi for the Arabic Bulletin - Edited by Suha Jadu)