UAE stock markets experienced significant declines as trading resumed on Wednesday following a two-day closure following Iran's unprecedented wave of missile and drone attacks on the Gulf nation on Sunday. According to reports from The Economic Times, the closure had frozen trading in billions of dollars' worth of listed assets as investors awaited clarity on the scale of damage from the weekend strikes, which hit airports, ports and residential areas across both emirates. Both exchanges implemented a temporary -5% price limit for securities as a precautionary measure to prevent excessive volatility during the reopening. The closure had frozen trading in billions of dollars' worth of listed assets as investors awaited clarity on the scale of damage from the weekend strikes, which hit airports, ports and residential areas across both emirates.
Dubai's main share index slid 4.7%, marking its biggest intraday drop since May 2022, in broad-based declines led by blue-chip developer Emaar Properties which retreated 4.9%. As reported by The Economic Times, budget airliner Air Arabia also retreated 5% during the trading session. The decline represents the steepest fall for Dubai's main index since the May 2022 period, highlighting the severity of investor concerns following the Iranian attacks. The move in ADX set the psychological tone for the broader region, where geopolitics abruptly overtook earnings, valuations, and oil-revenue optimism as the dominant pricing factor.
In Abu Dhabi, the index fell 3.6%, also the steepest decline since May 2022, with the country's biggest lender First Abu Dhabi Bank losing 5% during the trading session. According to The Economic Times, both exchanges implemented a temporary -5% price limit for securities as a precautionary measure. The Abu Dhabi Securities Exchange has instructed all listed companies to immediately assess their financial and operational exposure and promptly disclose any material information that could influence investor decisions. Regional brokerages were blunt in their assessment, with Emirates NBD noting that conditions prior to the start of the conflict will likely have little bearing on pricing this week, arguing that geopolitics has displaced macro and earnings narratives as the key driver.
The UAE market decline was part of a broader Gulf-wide selloff, with Boursa Kuwait suspending all trading from March 1-3, 2026 citing "exceptional circumstances" linked to the conflict and the need to preserve orderly markets. As reported by multiple sources, Oman's Muscat Stock Exchange saw the MSX30 Index fall more than 3% intraday before trimming losses to close roughly 1.5% lower, with industrial names bearing the brunt as investors rotated out of cyclical exposures. Bahrain's benchmark index eased about 0.6%, while Qatar's exchange remained closed for a bank holiday. In Saudi Arabia, the region's largest equity market, stocks plunged 2.13% on Sunday, reinforcing expectations that other GCC markets would open in negative territory. The Abu Dhabi Securities Exchange has instructed all listed companies to immediately assess their financial and operational exposure and promptly disclose any material information that could influence investor decisions.
The Iranian strikes triggered a violent repricing across global commodity markets, with Brent crude surging as much as 13% intraday to $82.37 per barrel, marking its sharpest one-day spike in years. The move follows reports that major producers and tanker operators have suspended or diverted shipments through the Strait of Hormuz, which handles roughly 20% of global seaborne crude flows. Oil markets repriced violently as disruption risk around the critical energy chokepoint intensified, with several strategists now warning oil could test $100 per barrel if transit is not restored quickly. Meanwhile, gold extended its flight-to-safety rally for a fourth consecutive session, trading between $5,390 and $5,400 per ounce, marking fresh historic highs with some macro desks outlining a $6,000 per ounce tail-risk scenario if the conflict broadens materially.