UAE Suspends Stock Trading Amid Iran Strikes

The UAE's Capital Markets Authority ordered a two-day suspension of trading on the Abu Dhabi (ADX) and Dubai Financial Market (DFM) stock exchanges on March 2-3 to prevent panic selling after Iran conducted strikes on regional ports and oil tankers.

These strikes effectively blocked the Strait of Hormuz, a critical chokepoint for global oil and LNG transit, potentially pushing oil prices above $100 per barrel and impacting US inflation. The disruption has also reportedly increased war-risk insurance costs by about 50% and slowed global supply chains due to rerouting.

While the closure was explicitly to prevent panic selling, not a public holiday, the event occurs amidst broader geopolitical tension, including Israel extending its state of emergency. Analysts note that markets had already priced in some risk, but sustained disruption could mirror the 2022 European energy crisis.

(Source：BeInCrypto)