UAE stock market slides as regional conflict intensifies
UAE stocks took a big hit yesterday as the conflict in the Middle East continued to escalate. The Dubai and Abu Dhabi indexes fell sharply, with property and banking stocks like Emaar and Emirates NBD dropping around 5%. Trading was actually suspended earlier in the week as a precaution. This market drop is part of a wider global trend as the conflict raises worries about inflation and economic growth. Interestingly, some other Gulf markets like Saudi Arabia and Qatar saw small gains while this was happening.
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