[T.S.R:16990] Dubai's Emaar Sinks 7 Per Cent, As The Entire Middle East Catches The Conflagration

Stocks in Dubai are down sharply in early trading, leading a sell-off across the Mideast as ongoing unrest piles pressure on regional markets.

The Dubai Financial Market's benchmark index dropped 3.6 percent to trade at 1,374 points by late morning Wednesday. 

The losses follow a 6.8 percent rout on the Saudi exchange a day earlier that came after several other regional markets had closed for the day. Investors fear the demonstrations that have shaken Bahrain and Oman could spread elsewhere in the Gulf, including OPEC kingpin Saudi Arabia.

Shares of the Dubai developer of the world's tallest tower, Emaar Properties, plunged 6.8 percent Wednesday. Shares of the Dubai Financial Market itself dropped 5.7 percent
 

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

 

Nothing in this article is, or should be construed as, investment advice.

 

 

 

 

 

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