Dubai and Abu Dhabi stock markets have lost around $120 billion in value since the start of the US-Israel war on Iran, according to multiple reports, as the conflict continues to rattle Gulf economies.
Reports indicate that the Dubai and Abu Dhabi benchmark indexes have dropped sharply since the conflict began on February 28, with Dubai’s index falling about 16 per cent and Abu Dhabi declining around 9 per cent. The losses have placed UAE markets among the hardest-hit financial markets globally during the ongoing crisis.
More than $120 billion has been wiped from market capitalization across the two exchanges in just over a month, with Dubai taking the larger hit due to its greater exposure to tourism, real estate, and global capital flows, which are particularly sensitive to geopolitical tensions.
The downturn comes as the broader Middle East conflict fuels investor uncertainty, rising oil prices, and fears of disruptions to regional trade and travel. UAE markets have also faced pressure from attacks and security concerns linked to the conflict, which have further shaken investor confidence.
Meanwhile, Gulf markets more broadly have seen volatility, with Dubai among the worst performers globally in recent weeks, while some other regional markets have shown mixed performance depending on exposure to the conflict.
The ongoing war has triggered wider global market turbulence, with oil prices surging and equities falling across multiple regions as investors brace for prolonged instability in the Middle East.
The situation remains fluid, with analysts warning that continued escalation could lead to further losses across Gulf financial markets. (Newswire)
