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Middle-East Opens Weak: Dubai Stocks Slump To 2-Year Lows As Financials Tumble

Tyler Durden's picture




 

Following Friday's further freefall in crude oil prices, The Middle East is opening down notably. Abu Dhabi, Saudi, and Kuwait are lower; Israel is weak and UAE and Qatar are tumbling, but Dubai is worst for now.  Dubai is down for the 6th day in a row (dropping over 3% - the most in a month) extending the opening losses to 2-year lows. The 11% drop in the last 6 days is the largest since the post-China-devaluation global stock collapse. Leading the losses are financial and property firms.

In a replay of August, Middle-East equity markets are tumbling as China allows the Yuan to weaken...

 

Sending Dubai stocks to 2 year lows and breaking critical support...

 

Financials and property firms extend and accelerate their recent losses...

 

Charts: Bloomberg

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Sun, 12/13/2015 - 03:13 | 6916716 One And Only
One And Only's picture

Black lives are the only thing that matters.

Sun, 12/13/2015 - 04:11 | 6916762 JoeySandwiches
JoeySandwiches's picture

Isn't one of Obama's sons heavily invested in Dubai?

Thoughts and prayers, thoughts and prayers.

Sun, 12/13/2015 - 11:56 | 6917179 Freddie
Freddie's picture

My hope is Putin and Russia send the Saudis, UAE, Qatar and Dubai a few dozen KalibrM's or maybe one or two RS-36M aka SS-18 Satan or a RSM-56 Bulava. 

https://www.youtube.com/watch?v=VblCjIRLdBs

F***king scumbags have helped murder countless innocent people in Iraq, Syria, Afghanistan, Yemen and other places with Uncle Sham and Schlomo.

Sun, 12/13/2015 - 12:48 | 6917533 Pool Shark
Pool Shark's picture

<=  Dubai?

<=  Don't Buy?

 

Sun, 12/13/2015 - 12:49 | 6917541 Niall Of The Ni...
Niall Of The Nine Hostages's picture

Your hope is widely shared.

All I'd ask is that Russia get to work on the cobalt bomb, if she hasn't already. Make that shit so radioactive that it'll be centuries before rebuilding is an option.

I'll give credit to the banksters for finally reining in their Arab proxies in 1973 after Israel threatened to nuke Europe's financial capitals, if the banksters sat back and let another holocaust happen. Wall Street realized there was no way to hedge against the atomic bomb.

The Arabs themselves will have to learn the hard way.

Sun, 12/13/2015 - 08:46 | 6916947 cherry picker
cherry picker's picture

Its nice to know somebody's life matters as no one gives a damn about the rest of us, except for what we have in our wallets.

Sun, 12/13/2015 - 11:17 | 6917257 nevertheless
nevertheless's picture

Its a "democracy", so you only have yourselves to blame. Stop electing pieces of shit, but the media would never allow that...

Sun, 12/13/2015 - 13:14 | 6917667 Tallest Skil
Tallest Skil's picture

It's a republic that has been bastardized into a "democracy" by TPTB. We're not to blame, save for not shooting the people who let this happen.

Sun, 12/13/2015 - 12:07 | 6917385 ThisIsBob
ThisIsBob's picture

"What's in your wallet, white boy?"

Sun, 12/13/2015 - 10:54 | 6917203 slaughterer
slaughterer's picture

No sympathy for these Middle East markets.  They could have BSed crude up last OPEC meeting, but instead they think they can tough it with low oil prices  out until the entire US shale industry goes bankrupt.  

Sun, 12/13/2015 - 11:16 | 6917256 nevertheless
nevertheless's picture

Because the shale industry is SOOO good for America, like giving another hit to a crack head...

Sun, 12/13/2015 - 11:15 | 6917250 nevertheless
nevertheless's picture

I never heard any African American say, or post, ONLY black lives matter. Your a piece of shit distraction, in America, only Israeli lives matter, certainly not American or Muslim lives. 

Sun, 12/13/2015 - 03:29 | 6916730 ---------
---------'s picture

filthy arabs get their reset now    no good

Sun, 12/13/2015 - 05:25 | 6916796 OldPhart
OldPhart's picture

Does this mean we get to fly planes into the Burj Khalifa?

Oh, goodie!!

Sun, 12/13/2015 - 08:44 | 6916945 cherry picker
cherry picker's picture

If you ram a 747 into that new kilometer high building it will probably come craashing down sideways instead of pancacking like the ones on 9/11.  Or maybe it will just tilt like the leaning tower of Pizza.

In any case, I wouldn't want to live or work anywhere near a target like that.

Sun, 12/13/2015 - 09:29 | 6917011 Proofreder
Proofreder's picture

Leaning tower of Pisa

Pisa, not the round cheese and pepperoni you stuff in your uneducated pie hole !

Sun, 12/13/2015 - 11:12 | 6917245 nevertheless
nevertheless's picture

Oh yes, because everyone knows that crashing planes into buildings gets you perfecting demolished structures, even when the planes don't even hit the building like #7...

Sun, 12/13/2015 - 13:22 | 6917709 Government need...
Government needs you to pay taxes's picture

Greatest example of 'Jewish lightning' in modern US history!

Sun, 12/13/2015 - 12:40 | 6917505 Niall Of The Ni...
Niall Of The Nine Hostages's picture

When we've finally had enough of their shit? No. We get to fire hydrogen bombs at that thing. It'll disappear in a puff of smoke and a far more satisfying bang.

And it will NEVER be rebuilt. Nor should it.

Sun, 12/13/2015 - 05:26 | 6916798 katchum
katchum's picture

No more free houses.

Sun, 12/13/2015 - 05:51 | 6916818 dogismycopilot
dogismycopilot's picture

Damac puts Trump's name BACK on project

http://www.thenational.ae/business/property/trump-signage-returns-at-ako...

Dubai property transactions down almost 50% in some areas but signs of uptick

http://www.thenational.ae/business/property/dubai-property-transactions-...

 

 

Sun, 12/13/2015 - 06:11 | 6916834 Flatchestynerdette
Flatchestynerdette's picture

Paris climate summit is against carbon (oil). These past 6 days of trading go right along with those bastards that don't like Dodge ram trucks w/a tow package or the nice 2016 Holiday Rambler w/cruise control to go RV'ing across the country in.

Sun, 12/13/2015 - 06:25 | 6916847 IReallyDontCare
IReallyDontCare's picture

You know what they say about building on sand..

Sun, 12/13/2015 - 06:38 | 6916860 Al Tinfoil
Al Tinfoil's picture

Vapour wealth.  Goes up like hot air, fills bubbles, poofs when bubbles deflate.  Unless the "holder" of the "wealth" cashes out to some greater fool before the bubble pops, the "wealth" escapes.

Its all Dubaious wealth

 

(sorry for the pun). 

Sun, 12/13/2015 - 07:10 | 6916869 waterwitch
waterwitch's picture

For a moment there I thought you were talking about the US...

Sun, 12/13/2015 - 08:09 | 6916905 aurum4040
aurum4040's picture

Its a world wide (save the Russians, Chinese, those heavily involved in the AIIB and those who really have physical gold and want to rid the world of the disease) problem because the world is still addicted to the worthless USD. 

Sun, 12/13/2015 - 08:16 | 6916912 aurum4040
aurum4040's picture

Its a world wide (save the Russians, Chinese, those heavily involved in the AIIB and those who really have physical gold and want to rid the world of the disease) problem because the world is still addicted to the worthless USD. 

Sun, 12/13/2015 - 08:26 | 6916921 yogibear
yogibear's picture

Once the oil runs out they'll revert back to what they were before the wealth.

It will be insignificant. 

Sun, 12/13/2015 - 09:43 | 6917043 TurnwiseWiddershins
TurnwiseWiddershins's picture

"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel"

-Rashid bin Saeed Al Maktoum, Emir of Dubai and PM of the UAE

Sun, 12/13/2015 - 10:11 | 6917104 longwood
longwood's picture

"Once the oil runs out they'll revert back to what they were before the wealth.

It will be insignificant."

 

But the ruins should be magnificent!!

Sun, 12/13/2015 - 12:36 | 6917497 Niall Of The Ni...
Niall Of The Nine Hostages's picture

What, like Palmyra?

I recommend leaving nothing of Dubai for posterity but a cobalt-salted crater several miles wide and so radioactive anybody daft enough to visit the former site of Dubai gets a lethal dose of radiation in an hour. 

Repeat for all major cities in the Arabian Peninsula.

Islam, when it has a choice, gives no quarter, and obliterated the memory of all that came before it. No quarter should be shown Islam, and no monuments to Islam's evil deeds should be allowed to stand.

Sun, 12/13/2015 - 08:41 | 6916938 california chrome
california chrome's picture

Can the ME markets go so low that the ME vanishes?

Sun, 12/13/2015 - 11:09 | 6917235 nevertheless
nevertheless's picture

You mean America won't have a place to bomb anymore at the behest of our Jewish masters? 

 

 

Sun, 12/13/2015 - 09:38 | 6917029 roadhazard
roadhazard's picture

They can only type with one hand in the Mid East and not in the fun way.

Sun, 12/13/2015 - 09:43 | 6917040 CHoward
CHoward's picture

Brings mist to my eyes.  NOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Sun, 12/13/2015 - 10:04 | 6917091 Baby Eating Dingo22
Baby Eating Dingo22's picture

CBs and the slave owners wont stand for this

Look for another coordinated relabeled QE announced tonight or pre-NY open

Sun, 12/13/2015 - 10:54 | 6917202 Freddie
Freddie's picture

I guess the genecidal war that the Saudis and UAE are waging in Yemen is not going well.  The Saudis and their mercenaries in yemen have been getting smashed. Tanks, BMPs and those stupid aromored cars are easily blown up by the Houthis.  The Saudis have lost at least 5 small naval ships.

Time for the Houthis and Shia to bring the war to Saudi Arabia and UAE.

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