The Dubai stock market crashed today, with the main index falling over 6.5%, after being down 8% at one point.
The market has been in a bear market even before today, having fallen about 20% over the last month.
One big negative driver has been Arabtec, a big construction company, whose shares have been plunging amid layoff rumors. The stock is down 50% this month.
Full article: Dubai Stock Market Crashes (Business Insider)