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U.A.E. to Limit Daily Decline in Shares to 5% From March 18

U.A.E. to Limit Daily Decline in Shares to 5% From March 18

(Bloomberg) — The United Arab Emirates imposed a 5% daily lower fluctuation limit for shares as markets in Dubai and Abu Dhabi joined a global rout.

Some shares may be allowed to drop as much as 7%, according to a statement posted on the website of the Securities & Commodities Authority. It didn’t provide further details.

Dubai and Abu Dhabi’s main stock indexes are both down 32% this month. The earlier fluctuation limit was 10%.

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