Gulf stocks nosedive after oil prices crash

March 9, 2020: Stock markets in the energy-rich Gulf states nosedived at the start of trading Monday after oil prices crashed amid a price war in the global market.

Kuwait's Premier index tumbled 9.5 percent and trading was suspended, while Dubai Financial Market dropped 9.0 percent and Abu Dhabi Securities Exchange shedded 7.1 percent.

Oil prices crashed at the opening on Monday after OPEC and its allies failed to reach an agreement on production cuts.


Posted on: 2020-03-09T11:54:00+05:00