Dubai: The Dubai index tumbled more than 4 per cent to breach the key 4,000 points level on Tuesday, led by Emaar Properties, as crude oil continued its slide.
The Dubai Financial Market General Index fell as much as 3,858.47, before trading 3.54 per cent lower at 3,888.26 at 11.22am.
Emaar Properties, the real-estate developer that accounts for about 20 per cent of Dubai’s gauge, fell more than 7.5 per cent at Dh7.69 per share after it went ex-dividend.
The ADX general index was down 1.39 per cent to be at 4,611.29.
Brent and West Texas Intermediate fell to a five-year low as Iraq followed Saudi Arabia in cutting prices for crude sales to Asia.
