MIDEAST STOCKS-Dubai in biggest drop in 8 mths, most mkts fall | Reuters:
"Dubai's index makes its one-day decline in eight months on Monday and technical indicators suggest it will fall further, while most other Middle East markets also retreated.
Dubai fell 5.5 percent to 4,856 points, its lowest close in a month and biggest one-day loss since Aug. 27.
"I think we'll see more selling - the key is that Dubai broke and then closed below 5,000 points," said Bruce Powers, technical strategist and president at WideVision in Dubai.
"It looks like we're going to 4,715, whether we go below that remains to be seen."
There was little apparent reason for Dubai's sudden sell-off apart from declines on global markets due to jitters about slowing growth China."
'via Blog this'
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