Dubai: Gulf bourses fell sharply on Monday, with real estate and bank stocks the hardest hit as worries over the global economy persisted. Saudi Arabia's main index plummeted 9.81 per cent, its biggest one-day loss in at least 22 months. "It's clear that the market is declining due to massive losses in the region and that's due to the falls in the US," says Abdullah Al Aqeel, equity trader at Samba Financial Group. "Everything is hit, banks, telecoms - everything is 'limit down'," he says. Dubai's main index fell 7.61 per cent to 3,551 points, its biggest one-day loss since March 2006 and its lowest close since April 2005, as investors fled the emirate's stricken property sector. The Abu Dhabi benchmark ended 5.61 per cent lower, its largest one-day fall since January. "Investors have gotten to a level where they simply don't...
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