Dubai: The Dubai Financial Market (DFM) crashed for the second consecutive day losing close to eight per cent as investors continued to be gripped by fears of a severe global liquidity crisis and its impact on the real estate and banking sectors at home. The Dubai Financial Market General Index slid 292.48 points or 7.61 per cent to close at 3,551.79. In two days the index has tumbled 14.47 per cent. The Abu Dhabi Securities Exchange Index also tumbled, shedding 211.66 points or 5.61 per cent to end at 3,558.18. Real estate and banking sectors in both markets continued to be battered with investors forsaking stocks in both. In two days, about Dh77.48 billion has been wiped off the UAE markets. "The global credit situation is having a very profound impact on the sentiments and confidence of the investors and that is not...
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