Dubai’s benchmark DFM General Index officially enters bear market territory after falling roughly 22–23% from its February peak. The decline marks a sharp reversal for the Gulf financial hub after a prolonged period of strong market performance.
Losses are broad-based across several key sectors. Shares of banks, real estate developers, airlines, and tourism-related companies lead the downturn as investors react to heightened regional uncertainty and weakening risk appetite.
Analysts say the move reflects rising volatility in Middle Eastern markets as geopolitical tensions weigh on investor sentiment. The downturn also highlights the sensitivity of Dubai’s equity market to shifts in global capital flows and regional economic conditions.