Yesterday was a tough day for stock exchanges in the Gulf states with painful falls due to fears of the new strain of corona virus, Omicron. In total, the stock exchanges lost $94 billion of their value, reaching $3.45 trillion.

The largest decline was recorded in Dubai with over 5% and a total write-off of $7.6 billion. 
The largest Saudi market in the Arab world recorded a decline of 4.5% yesterday - the largest decline since May 2020.