Dubai Stocks Fall Into Bear Market as Iran War Enters Third Week

Dubai stocks slid into bear-market territory as the crisis in the Middle East caused chaos in the energy, shipping, real estate and tourism industries.

The Dubai Financial Market General Index fell as much as 3.2% on Monday, down 21% from its February high. If the gauge closes at this level, stocks will be in a bear market, which is defined as a decline of 20% or more from a peak.