"The UAE's financial regulator on Sunday announced that its key exchanges in Dubai and Abu Dhabi would not immediately reopen after the weekend break amid the fallout of the US-Israeli attacks that killed Iran's Supreme Leader Ayatollah Ali Khamenei."
"The announcement that the Abu Dhabi Securities Exchange and Dubai Financial Market would remain closed on Monday and Tuesday came after the UAE was hit with hundreds of Iranian missile and drone attacks, including a strike on Abu Dhabi's main airport that killed one person and wounded seven others."
"Typically, when financial authorities halt stock trading during a crisis, it is because they are concerned about panic selling. During periods of extreme volatility, such as wars and financial crises, investors often rush to sell their holdings to avoid suffering big losses."
The United Arab Emirates shut down its primary stock exchanges—the Abu Dhabi Securities Exchange and Dubai Financial Market—on Monday and Tuesday following escalating regional conflict. The closure came after Iran launched hundreds of missiles and drones at the UAE, including a strike on Abu Dhabi's airport that killed one person and injured seven others. The UAE's Capital Markets Authority implemented the measure to manage financial markets during the crisis, though it did not explicitly state its reasoning. Stock market closures during crises typically aim to prevent panic selling and market crashes caused by investors rushing to liquidate holdings during extreme volatility. The regulator indicated it would continue monitoring regional developments and assess the situation ongoing.
#stock-market-closure #uae-financial-markets #regional-conflict #market-volatility #iran-us-israel-tensions
Read at www.aljazeera.com
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