Gulf stocks tumble amid oil price, coronavirus impact - Arabianbusiness:
Stock markets in energy-rich Gulf states tumbled Thursday with Saudi shares down more than 4 percent following worldwide losses amid fears over the coronavirus pandemic and an oil price war.
Dubai Financial Market dived more than 7 percent at the open on the last trading day of the week. Abu Dhabi shares dropped 6 percent.
Stocks in gas-rich Qatar dropped 5.2 percent, while bourses in Bahrain and Oman were down 3.5 percent and 2.2 percent, respectively.
The stock market in Kuwait was closed as authorities announced a shutdown of government offices for two weeks and cancelled international flights in a bid to prevent the spread of the coronavirus.
Oil prices, the mainstay of Gulf economies, fell sharply on Thursday with Brent trading below $34 a barrel and WTI just above $31 a barrel.
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