Missile cuts through "Calm Bay": UAE stock market experiences two days of successive declines, Dubai stock index plunges by nearly 5% intraday.

After the US-Israeli attack on Iran, the UAE stock market plummeted significantly on Wednesday after reopening for trading. Previously, this Gulf country had closed its key markets for two consecutive days to protect them. The Dubai Financial Market General Index plummeted by 4.7% in early trading, with Emirates NBD Bank and Emaar Properties leading the decline. The Abu Dhabi FTSE ADX General Index fell by 2.9%. On the 2nd and 3rd of this month, due to hundreds of missiles and drones launched by Iran targeting Dubai and Abu Dhabi, the UAE Securities and Commodities Authority temporarily closed both exchanges. Iran's actions were in response to the attacks launched by the US and Israel since last Saturday. The UAE regulatory authority issued a statement on Tuesday announcing the resumption of trading on Wednesday. The Dubai Stock Exchange stated that a 5% "temporary adjustment floor limit threshold" would be implemented. As the conflict escalates and threatens to disrupt the UAE's carefully cultivated image of a calm harbor in a volatile region, the country has been trying to intercept dozens of missiles launched by Iran. As a financial center in the Middle East, the Dubai stock market soared to a new high since 2006 in early February due to investors betting on its economic resilience. Previously, the main benchmark index had experienced an astonishing 300% increase over nearly six years, fueled by consumer growth, real estate prosperity, and the expansion of the financial services industry. Qatari, Saudi Arabian, and Kuwaiti stock markets also experienced declines this week due to the attacks from Iran. However, as the war disrupted regional supplies, oil prices surged and stocks listed in Riyadh began to recover some lost ground.