Dubai stocks enter bear market as conflict-driven selloff hits banks, property shares

Dubai’s main stock index slipped into bear-market territory on Monday after falling more than 20% from its February peak as escalating regional tensions triggered broad selling across banking, real estate and travel-linked shares, Anadolu reports. The Dubai Financial Market General Index reached a recent high of 6,785.48 on Feb. 10 and later dropped to 5,391.98 on March 13, according to Dubai Financial Market data. That represents a decline of about 20.5%, meeting the widely used definition of a bear market. Selling pressure persisted Monday, with Reuters reporting that Dubai’s benchmark fell another 2%, led by a 3% drop in Emaar Properties and a 1.4% decline in Emirates NBD as investors reacted to rising geopolitical uncertainty in the Gulf. The index […]