economy
March 4, 2026
UAE stocks sell off as markets reopen from two-day closure after Iranian strikes
Exchanges in Dubai and Abu Dhabi were closed for two days after Iran launched a wave of strikes on the Gulf nation.
TL;DR
- Dubai and Abu Dhabi stock indexes fell sharply on Wednesday, their first trading day after a two-day closure due to Iranian attacks.
- Dubai's benchmark index dropped 4.7%, its worst day since May 2022, while Abu Dhabi's main index closed 1.9% lower.
- Emirates NBD, Al Buhaira National Insurance Company, and Umm Al Qaiwain General Investments were among the leading decliners.
- Exchanges temporarily adjusted lower price limit thresholds to -5%.
- Iran's strikes reportedly hit civilian and commercial areas, causing flight cancellations and damage to infrastructure.
- Analysts from Citi expressed concern about the conflict's impact on the MENA region, identifying real estate developers and banks as most at risk.
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