The United Arab Emirates has declared its stock markets closed for Monday and Tuesday as it grapples with the economic aftershocks from Iran’s retaliatory strikes in Gulf nations hosting US bases and assets.
Following joint attacks by Israel and America against Iran, Iran launched a series of missile and drone strikes across multiple Gulf countries. These included hits on airports, ports, residential areas, and other critical infrastructure, causing significant collateral damage.
The Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), home to some of the region’s most valuable listed companies, are currently shut as per orders from the UAE Capital Markets Authority. This move underscores the expanding economic disruptions sweeping through the Gulf.
“The Authority will continue to closely monitor regional developments,” said a statement issued by the supervisory body. “Any further actions will be decided based on our ongoing assessments of the situation.”
These closures have left billions in listed assets suspended, awaiting clarity over the extent of the damage from Saturday and Sunday’s strikes. The UAE’s major markets experienced sharp declines: Saudi Arabia’s benchmark index dropped more than four percent at the open; Oman’s market fell three percent; Egypt’s main index saw a 5.44 percent decrease; and Kuwait halted trading entirely.
For now, all parties are advised to follow official channels for updates on the resumption of trading in the UAE’s capital markets.