Dubai's Wild Stock Market Suffers Another Epic Crash

A construction company wobbles, and stocks plunge

While the U.S. stock market has been chugging upward with an unusual lack of volatility, Dubai has had eight bear markets—declines of 20 percent or more—in the past six years. The most recent swing was especially dramatic. After more than doubling from June 13 of last year through May 5, the benchmark DFM General Index lost 26 percent through June 30. A 13 percent rally in the first two days of July left the index up 30 percent for the year.

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