Dubai and Abu Dhabi Stock Markets Have Shed More Than $120 Billion Since the Iran War Began

According to a report published in Persian Gulf business media including Zawya on Thursday, July 9, 2026, Dubai's DFM General Index has lost about $45 billion in market capitalization and Abu Dhabi's ADX General Index about $75 billion since the Iran-Israel war began in late March 2026, a combined toll of more than $120 billion previously also reported by Al Jazeera. The report said the DFM index fell 1.5 percent in one recent trading session alone as concerns over the Strait of Hormuz intensified. Analysts said the war's impact on Gulf-listed companies has been uneven, with tourism- and aviation-linked sectors hit hardest.