Dubai Financial Market index dropped up to 6.7 per cent in intra-day trading, falling as low as 1,504 points today from Thursday's close at 1612 points.
Abu Dhabi's index saw less volatility, but fell 3.67 per cent intra-day.
Sixth day of protests continue in Egypt, while police and army struggle to implement protest ban and control spiraling looting. Prime Minister Ahmed Nazif resigned on Saturday on President Hosni Mubarak's request.
Omar SulAiman, the head of Egypt's intelligence services, was sworn in as vice president. Egyptian market and banks were closed yesterday after the index fell 16 per cent in two trading days.
Analysts are not expecting that Egyptian and related markets to stabilise after economic and political reforms are implemented.
