Dubai and Abu Dhabi Markets Slump as War Spillover Wipes $120B
The UAE faces its biggest economic shock in decades as the Israel-US war on Iran hits core sectors, with Dubai and Abu Dhabi stock indices plunging and about $120 billion of market value erased, thousands of flight cancellations, a weakening real estate market, and aviation/tourism disruptions signaling vulnerabilities in Dubai's and Abu Dhabi's economic model.