Dubai - Middle East’s stock markets crashed as expected due to the increasing unrest and instability; generally in Arab world and especially in Egypt.
The losses, led by a fall of more than 4 percent in the business heart of Dubai, mirror concerns the unrest that has spread in the Arab world's most populous country and nearby Tunisia threatening to spread, exposing the economic recovery across the region.
The benchmark index for the Dubai Financial Market tumbled 4.3 percent to close at 1,543.02. Abu Dhabi's main index sank 3.7 percent to close at 2,561.06.
Among the biggest losers in Dubai were real estate developer Emaar Properties, the builder of the world's tallest tower, which sank 8.3 percent to 3.11 dirhams (85 cents). Shares of discount carrier Air Arabia, which is growing its operations in Egypt, dropped 6.1 percent to 0.79 dirhams (22 cents).
Shares of the exchange's biggest loser, Emirati natural gas producer Dana Gas, plunged 9.9 percent to finish at 0.64 dirhams (17 cents) despite assurances that its Egyptian operations haven't been stopped amid the protests.
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