Stocks markets in the Mideast are suffering sharp drops in early trading Sunday over fears about the new coronavirus and demand in crude oil falling amid a failure by OPEC and allied nations to cut production
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Stocks markets in the Mideast are suffering sharp drops in early trading Sunday over fears about the new coronavirus and demand in crude oil falling amid a failure by OPEC and allied nations to cut production.
The Dubai Financial Market saw stocks drop by over 8% in a sharp selloff. Boursa Kuwait stopped trading as shares fell below 7%. The Abu Dhabi Securities Exchange dropped by 6%
Around the world, more and more countries were bracing for a surge in virus cases. Events and festivals were called off. Travel restrictions and warnings were issued. A nose-dive in tourist traffic and possible disruptions to supply chains set off fears of a worldwide economic slowdown.
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