Business | Markets
UAE stocks in sharp decline in early trading on Thursday
UAE stock markets went down sharply in early trading on Thursday, tracking a sharp sell-off in Asia on growing fears of a global recession.
Dubai: UAE stock markets went down sharply in early trading on Thursday, tracking a sharp sell-off in Asia on growing fears of a global recession.
Dubai's main index leads losses, falling 6.47 per cent to 3,206 points led by Emaar Properties and Dubai Islamic Bank which fell fall 8.51 per cent and 9.14 per cent respectively.
In Abu Dhabi, Sorouh Real Estate fell 9.23 per cent and Aldar Properties 8.87 percent as the benchmark slides 3.61 per cent to 3,398 points.
Negative sentiment increased after Wall Steet on Wednesday had its worst day since the 1987 stock market crash.
Muscat's measure is off 5.75 per cent at 7,247.97 points led by Bank Muscat, which fell 9.5 per cent and National Bank of Oman, which declines 6.85 per cent.
Share this article
Popular in Business

-
General
Precious jump
Gold prices at new high as India's central bank buys $6.7b worth of gold
Business Editor's choice
-
Flying high: 50 years of Dnata
Shaikh Rashid saw an opportunity to help generate the capital needed for the airport through airline ticketing
-
Official opening of Burj Dubai set
Opening date to coincide with accession to power of Dubai ruler
-
The urbanisation of Dubai
From 1973 to the present day, we look at the urbanisation of Dubai


