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Gulf markets reflect global tension
- Middle East: Wednesday, July 30 - 2008 at 09:34
A state of panic prevailed at Gulf stock markets after a sharp decline was seen by the major international exchanges. All seven Gulf markets fell yesterday. The sharp decline witnessed by the American and European markets, after a number of international banks and institutions announced that they would write-off new debts. Muscat's market witnessed the worst decline, falling by 3.6%, followed by Dubai 1.4%, Doha 1.3%, ADX 0.89%, Saudi 0.37%, KSE 0.17%, and Bahrain by 0.04%. The biggest losses were witnessed by the banking, services and real estate sectors.
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StaffWednesday, July 30 - 2008 at 09:34 UAE local time (GMT+4)
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