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  "publishedAt": "2026-03-04T11:13:03.000Z",
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  "textContent": "\n\n\n\nStocks in Dubai and Abu Dhabi tumbled on Wednesday as markets reopened after a two-day halt following Iran's unprecedented wave of missile and drone attacks on the Gulf nation on Sunday.\n\nU.S. forces continued nonstop operations against Iran as Israel launched wide-ranging strikes on Iranian missile and air-defense targets; a U.S. commander said the campaign is running ahead of plan.\n\nThe UAE’s Capital Markets Authority closed the ADX and DFM on March 2 and March 3, an extraordinary step outside usual holiday and mourning closures.\n\nMarket cap stands at roughly $1.1 trillion across both exchanges.\n\nThe closure froze trading in billions of dollars' worth of listed assets as investors awaited clarity on the scale of damage from the weekend strikes on airports, ports and residential areas across both emirates.\n\nDubai's main share index .DFMGI slid 4.7%, its biggest intraday drop since May 2022, in broad-based declines led by blue-chip developer Emaar Properties 4.9%, while budget airline Air Arabia retreated 5%.\n\nAirlines and the tourism sector rushed to respond to more than 20,000 flight cancellations, while governments moved quickly to repatriate travellers stranded in the Middle East.\n\nTop lender Emirates NBD ENBD.DU dropped 5%.\n\nIn Abu Dhabi, the index .FTFADGI fell 3.3%, also the steepest decline since May 2022, with biggest lender First Abu Dhabi Bank losing 5%. Among energy stocks, Dana Gas and TAQA were down 5% each.\n\nAldar Properties was down 5%.\n\nADNOC — the parent across the fuel distribution, drilling, logistics, and gas chain — came under pressure, the entire complex sold off in tandem.\n\nBoth exchanges said they would temporarily set the lower price limit for securities at -5%.\n\nThe Abu Dhabi Securities Exchange has told listed companies to immediately assess financial and operational exposure and promptly disclose any material information that could influence investor decisions.\n\nAbu Dhabi Commercial Bank plunged 4.9%. The UAE's third-largest lender by assets said it has restored its mobile banking app after a disruption that also hit its contact center, with some features still being reinstated.\n\nThe closure sent investors the message that regulators are prioritizing orderly price discovery over a volatility rollercoaster, said Ahmad Assiri, a research strategist at Pepperstone.\n\nTraders should expect a volatile price-discovery phase as markets reprice two days of global and regional developments. Volumes may run well above average as pent-up orders hit the tape, Assiri added.\n\n\"Because the Saudi market has already absorbed the initial shock, recovering from a 5% Sunday drop to post gains by Tuesday, the UAE reopening is expected to follow this recovery template to some extent,\" Assiri said.\n\nSaudi Arabia's benchmark index .TASI rose 1%, on course to extend the previous session's gains, led by an increase of 0.9% in Al Rajhi Bank 1120.SE 3% while petrochemical maker Saudi Basic Industries Corp trimmed early gains to trade 1.2%, although the company swung to a massive net loss in 2025.\n\nThat outcome was mainly due to impairments and losses related to the divestment of assets in Europe and the Americas.\n\nJabal Omar Development - which runs the Jabal Omar complex of hotels and property within walking distance of the Grand Mosque in the Muslim holy city of Mecca - advanced about 5%, following a steep rise in annual profit.",
  "title": "UAE bourses slide after markets reopen from two-day halt during Iranian attacks"
}