Economics
Dubai Stock Plunge Leads Middle East Rout After Global Selloff
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Dubai shares dropped the most in almost four months, leading Middle East equity declines, after investor concern global growth will slow sparked a selloff worldwide. Saudi Arabia’s stocks fell the most since March 2011.
The Dubai Financial Market General Index slid 6.5 percent to 4,619.60 at the close, the lowest level since July 20. Saudi Arabia’s Tadawul All Share Index retreated 6.5 percent to the lowest since July 22. Abu Dhabi’s ADX General Index slipped 3.5 percent, the most in almost four years, and Qatar’s QE Index closed 3 percent down.