Sinking crude erases 2014 gains on Dubai index | GulfNews.com:
"A downward spiral in crude oil prices continued to dent investor sentiment in GCC equity markets on Sunday. The Dubai index wiped off gains registered in 2014, since it fell another 7 per cent for a second straight session.
The Dubai Financial Market General Index ended 7.61 per cent at 3,321.33, after hitting a low of 3,312.48, a level last seen in January. Leading the decline were construction major Arabtec and Emaar Properties. Arabtec fell 9.66 per cent, while Emaar Properties fell more than 8 per cent.
Dubai’s stock market was the world’s best performing this year until it was caught up in a regional sell off amid tumbling oil prices."
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