The stock market of Dubai slipped to its biggest 1-day fall since last December on Sunday, as bourses through the Gulf slid, due to further weakness in oil prices and the decision by Fitch Ratings to cut its outlook for Saudi Arabia’s debt.
The main Dubai index closed down 7.0% to 3,451 points, its lowest close since March 30. Top real estate developer Emaar Properties plunged 8.3% while builder Arabtec dropped its 10% daily limit.
The material has been provided by InstaForex Company – www.instaforex.com