UAE, Saudi stock investors should not panic on US recession, tech meltdown fears

By Staff Reporter
Dubai: Even as Middle East tensions keep flaring, this is not the time for UAE and Gulf investors to hit any panic buttons and go in for an ‘excessive’ liquidation of their stock holdings.

Also, they should not be looking too much at what’s happening with US stocks and repeat the same in local and regional markets, whether that’s the DFM, ADX or the Tadawul, say market watchers. Because unlike on the Dow and the Nifty, UAE stock markets are yet to see a heavy tech sector presence – for now, that’s a good thing, analysts add.