UAE Suspends Stock Trading Amid Iran Strikes

UAE’s Capital Markets Authority shut both the Abu Dhabi (ADX) and Dubai Financial Market (DFM) stock exchanges for March 2–3 after Iran struck major ports and oil tankers across the Middle East. The ADX and DFM are the two primary equities exchanges in the United Arab Emirates, together serving as the Gulf region’s key capital market hubs. Why it matters: Iran’s strikes effectively blocked the Strait of Hormuz, the chokepoint through which roughly 20 million barrels of oil per day and nearly 20% of global LNG exports transit. A sustained Hormuz closure could push oil above $100 per barrel, according to Kobeissi Letter analysis, spiking US CPI inflation toward 5% source: https://beincrypto.com/uae-closes-stock-markets-iran-strikes/