It's Not Just Russia: Middle East In Freefall, Biggest Plunge In 6 Years

Dubai's Financial Market General Index is now down 40% since the peak in oil prices in June this year. For now, only Qatar is clinging to gains year-to-date as the rest of the Middle Eastern equity markets give up 30-60% gains from mid-year and tumble to negative. Dubai and Abu Dhabi alone are down over 8% since Friday. Saudi Arabia is down 7.3% today - the biggest drop in 6 years.

 

Saudi Arabia's worst day in 6 years


Year-to-date, Kuwait is now down almost 20% with only Qatar clinging to gains...

 

as All Middle Eastern equity markets have collapsed since oil peaked...

 

Charts: Bloomberg