DUBAI, United Arab Emirates, (AP) – Stocks across the Middle East are tumbling as regional markets open back up following a weekend of violent protests in Egypt.
The benchmark index for the main stock exchange in the regional financial hub Dubai is down 6.7 percent to 1504 points in midday trading Sunday.
Among the biggest losers are regional discount carrier Air Arabia and Emaar Properties, the developer of the world’s tallest building. Their shares are each down nearly 10 percent, the daily limit.
Shares in Abu Dhabi are trading 3.7 percent lower, while Kuwait’s main index is down 2.4 percent.
Saudi Arabia was the only major regional market open Saturday, when it shed 6.4 percent. It is recovering slightly, up 1.5 percent Sunday.