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Markets in state of 'collapse'
- Middle East: Wednesday, November 12 - 2008 at 10:24
For the third consecutive day, UAE shares have declined sharply with many shares down by 10% including Emaar which traded below Dhs4. A state of confusion prevailed among small traders after watching leading shares falling rapidly, a report by Rasmala described what is happening in the markets as a 'collapse'. UAE shares have now lost Dhs39bn in three days, adding Dhs27bn to the tally yesterday after DFM declined by 7.3% and ADX by 4.9%. Other regional markets suffered too including Doha 6.2%, Tadawul 4.5%, Bahrain 2.7%, KSE 2.1% and Muscat 2%.
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StaffWednesday, November 12 - 2008 at 10:24 UAE local time (GMT+4)
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