UAE shares extended losses on Wednesday as local investors rushed to book profits from the recent rally amid a fresh wave of turbulence across global stock markets.
The Dubai Financial Market (DFM) General Index was down 3.44 per cent to 1,631.03 at 11.24am UAE time while Abu Dhabi's bourse had lost 1.6 per cent to 2,568.24.
Asian shares fell for the third day in a row on Wednesday on renewed uncertainty over Greece's bailout while US and European equity markets also saw heavy losses on Tuesday. The Dow Jones Industrial Average losing 1.57 per cent to 12,759.14, London's FTSE 100 declining 1.86 per cent to 5,765.8 and Frankfurt's Dax tumbling 3.4 per cent to 6,633.1.
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