UAE financial markets reopen after halt following Iran attacks

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UAE financial markets reopen after two-day halt following Iran attacks

March 4, 2026

DUBAI,— Dubai and Abu Dhabi stock markets fell sharply on Wednesday as trading resumed following a two-day closure after Iran launched a series of missile and drone attacks over the weekend, Reuters reported.

The United Arab Emirates’ Capital Markets Authority had shut the Abu Dhabi Securities Exchange and Dubai Financial Market on March 2 and March 3 to prevent a potential market collapse, an unusual step beyond regular holiday or mourning closures. Together, the exchanges have a market capitalization of about $1.1 trillion.

The pause froze billions of dollars in listed assets as investors waited for more information on the damage from the attacks, which affected airports, ports, and residential areas in both emirates.

When trading reopened, Dubai’s main index (.DFMGI) dropped 4.7 percent, its largest single-day decline since May 2022. Shares of major companies were among the hardest hit.

Developer Emaar Properties fell 4.9 percent, budget airline Air Arabia lost 5 percent, and Emirates NBD, the top lender, also declined 5 percent.

In Abu Dhabi, the benchmark index (.FTFADGI) declined 3.6 percent, the steepest drop since May 2022.

First Abu Dhabi Bank lost 5 percent, while energy companies Dana Gas and TAQA each fell 5 percent. Aldar Properties was down 5 percent as well. ADNOC, which operates across fuel distribution, drilling, logistics, and gas, faced selling pressure along with its related units.

Both exchanges announced a temporary lower price limit of 5 percent for securities. Abu Dhabi’s regulator also instructed listed companies to immediately assess their financial and operational exposure and disclose any material information that could affect investors.

Ahmad Assiri, research strategist at Pepperstone, said the closures signaled that regulators were prioritizing orderly price discovery rather than letting markets swing wildly.

He warned that volumes could be high as pent-up orders are executed and prices adjust to two days of regional and global developments.

Assiri noted that the UAE’s market reopening may follow Saudi Arabia’s pattern, where the benchmark index (.TASI) rebounded from a 5 percent drop on Sunday to gain 0.6 percent by Tuesday.

Gains were led by petrochemical firm Saudi Basic Industries Corp, which rose 3 percent despite posting a net loss in 2025 due to impairments and asset divestments in Europe and the Americas.

Jabal Omar Development jumped more than 8 percent following a strong profit report.

In Qatar, the index (.QSI) rose 0.3 percent. Qatar Gas Transport gained 1.8 percent, while Industries Qatar declined 1.3 percent after announcing cuts and suspension of some products.

(With files from Reuters)