Coronavirus: How trillions of dirhams were lost as a result of outbreak

Coronavirus: How trillions of dirhams were lost as a result of outbreak

In the UAE, Dubai Financial Market fell 0.8 per cent while Abu Dhabi lost 2.2 per cent.. Investors were in panic mode on Monday due to growing coronavirus concern, sending equity markets to multi-year lows across the globe and wiping out trillions of dirhams in market capital.. Investors in Dubai and Abu Dhabi lost $626 million (Dh2.3 billion) and $3.16 billion (Dh11.6 billion).. While Saudi Arabia's Tadawul index lost 2.89 per cent or $68 billion (Dh250 billion) in market on Monday.. Among other regional bourses, Kuwait, Qatar, Oman and Bahrain lost 1.7 per cent, 1.3 per cent, 1.0 per cent and 0.5 per cent, respectively.. After the UAE, Oman, Bahrain and Kuwait also reported first coronavirus cases in the country, causing concern among regional investors.. Investors are tense as coronavirus spread to more countries while the death toll also mounted over the weekend.. On Sunday, IMF officials told G20 leaders that that coronavirus puts global economic recovery at risk.. Markets in the GCC, Europe and Asia lost well over $572 billion (Dh2 trillion) in market capitalization on Monday.. In the commodities market, oil prices also slipped in line with fall in equity markets.. Brent was down $2.57 or 4.44 per