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Dubai Financial Market was down 2.3 per cent with 26 out of 28 scrips trading in the negative territory. The decline was led by Dubai Islamic Bank, Emaar Properties, Gulf Navigation, Damac Properties and Amanat.
Abu Dhabi index slipped 1.9 per cent to 3,894 points, pushed down by banking stocks. First Abu Dhabi Bank and Abu Dhabi Islamic Bank shares were down 3.44 per cent and 3.2 per cent, respectively.
The US oil prices crashed into the negative territory due to oversupply and storage issues on Monday, pushing US equity markets also down. The Dow tumbled 2.4 per cent, S&P 500 slipped 1.8 per cent and technology-laden Nasdaq shed 1.2 per cent.
US oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude.
US West Texas Intermediate (WTI) crude for May delivery was up $37.7 in thin trade at $1.0 a barrel by 11.10am UAE time after settling down at a discount of $37.63 a barrel in the previous session.
Among other regional bourses, Saudi Arabia's Tadawul slumped 1.5 per cent within few minutes of opening the trade. Kuwait's index declined two per cent while Muscat Securities Market dropped 0.6 per cent in early trade. Bahrain and Qatar bourses also opened lower. Qatar slipped 1.1 per cent while Bahrain dipped marginally on Tuesday.
waheedabbas@khaleejtimes.com
Here's a list of the places you can go; entry is free to most of them
Some of the survivors were still recovering at hospitals while others were already in their homes
The vaccines will be flown to Democratic Republic of the Congo, Nigeria, South Africa, Ivory Coast and Cameroon
‘My current position is, to be honest, beyond all my pre-tournament expectations,’ said the tournament host
The confirmed case involved a 51-year-old man, who is currently in stable condition and undergoing treatment
Regarding the possibility of elections in the violence-hit country, the foreign affaires adviser said there would be more clarity on the timeline by September
The Zurich-based body said it has now moved the assessment to October
Mohanlal and other AMMA leaders resigned, accepting accepting moral responsibility for the association’s failure to address the issue