The Dubai Stock Market Crashed

The Dubai stock market crashed today, with the main index falling over 6.5%, after being down 8% at one point.

The market has been in a bear market even before today, having fallen about 20% over the last month.

One big negative driver has been Arabtec, a big construction company, whose shares have been plunging amid layoff rumours. The stock is down 50% this month.

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