UAE to limit daily decline in shares to 5% from March 18

The United Arab Emirates imposed a 5 per cent 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 per cent, 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 per cent this month. The earlier fluctuation limit was 10 per cent.