DUBAI: The United Arab Emirates stock markets of Dubai, Abu Dhabi and Qatar plunged on Tuesday by 6.25 percent, 5.91 and 9 percent respectively at the opening, continuing a freefall trend triggered by Dubai's debt woes. The DFM index in Dubai dropped 121.33 points to 1,819.33, while the Abu Dhabi Securities Exchange index fell 157.68 points to 2,510.55.
Qatari shares slumped more than nine percent at the start of trading on Tuesday in the first Qatari reaction to the Dubai debt crisis.
Since the two markets reopened on Monday following a four-day holiday for the Muslim festival of Eid al-Adha, Dubai's market has shed about 13 percent of its value while Abu Dhabi has lost around 14 percent.
Also, Karachi Stock Exchange (KSE) witnessed bearish trend on Tuesday as benchmark 100-Index shed more then 200 points.
The market began with bearish note this morning, which is remained continued. KSE-100 index plummeted by 200 points to 8999 level during trading. Analysts said Dubai financial crunch could affect remittances worth of $6 billion to Pakistan.
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