Mideast Stocks: Dubai dives on real estate, oil hurts major Gulf markets | ZAWYA MENA Edition:
The Dubai stock market fell to its lowest in nearly three years on Wednesday, pulled down by real estate stocks, while most major Middle Eastern markets slid on falling oil prices.
Oil prices were pulled down by a decline across financial markets, as concern about global growth and evidence of greater crude supply wiped out half of this week's gains.
"Both weak oil and uncertain near term outlook, be it real estate outlook in Dubai or geopolitics currently, are acting as a drag for many of these markets," said Nishit Lakhotia, head of research at SICO in Bahrain.
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