Bad day for the Dubai market yesterday. The DFM General Index was down 3.83% for the day, finished down 8% for the month and made a new barket market low.
The Index closed at 1410.70. That's the lowest level since the previous bear market low was made in Februrary 2009. The first time the Index was trading at the current level was.........wait for it.........back in June 2004!
The good news is that the DFM General Index can only go down another 1,410 points before it hits the zero level. I'm fairly confident that it can't go any lower than that.
The Index closed at 1410.70. That's the lowest level since the previous bear market low was made in Februrary 2009. The first time the Index was trading at the current level was.........wait for it.........back in June 2004!
The good news is that the DFM General Index can only go down another 1,410 points before it hits the zero level. I'm fairly confident that it can't go any lower than that.
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