UAE stock market sees sharp drop after resuming trading following two-day closure due to Iran conflict.

The UAE stock market plummeted after resuming trading on Wednesday. Following attacks by the US and Israel on Iran, the UAE announced the closure of its two major markets for two days this week to prevent a market crash. The Dubai Financial Market Composite Index fell by 4.7% in early trading, while the Abu Dhabi Stock Exchange's FTSE ADX General Index declined by 2.9%. The UAE Capital Markets Authority previously announced that the Abu Dhabi Securities Exchange and the Dubai Financial Market would be closed on March 2nd and 3rd. In response to the attacks launched by the US and Israel since Saturday, Iran has carried out hundreds of missile and drone attacks on Dubai and Abu Dhabi. The UAE regulatory agency issued a statement on Tuesday announcing that trading would resume on Wednesday, with the Dubai Financial Market implementing a temporary 5% "circuit breaker limit".