Published: 03.08.20 , 10:04
Stocks markets in the Mideast suffered sharp drops in early trading Sunday over fears about the new coronavirus and falling demand for crude oil amid a failure by OPEC and allied nations to cut production.The Dubai Financial Market saw stocks drop by over 8% in a steep selloff. Boursa Kuwait stopped trading as shares fell below 7%. The Abu Dhabi Securities Exchange dropped by 6%. Saudi Arabia’s Tadawul stock exchange fell over 6% as the market opened.The demand for oil has dropped as air travel has been affected by the outbreak of the virus.
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