Dubai Market Tumbles Again, Emerging Market Currencies Slide, Gold Continues To Climb

Earlier in the day, the big Mideast stock markets were getting obliterated for the second straight day.

Dubai was down over 6%, with Saudi Arabia close behind.

Now things have stabilised a little bit, as Dubai is now off 2%, and Saudi is flat.

But the Syria-driven market jitters are still the big theme, as oil briefly surged this morning, and gold continues to climb. It’s now at $US1427.

Meanwhile, several of the weak emerging market currencies that everyone is beating up on continue to fade. The rupee is at a new low. So is the Turkish lira.

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