Gulf stock markets tumble as oil slumps amid virus concerns

Gulf stock markets tumble as oil slumps amid virus concerns

Stock markets in the energy-rich Gulf states tumbled Monday as oil prices extended losses amid unprecedented measures against the coronavirus, as Bahrain became the first Arab Gulf country to record a death from the disease.. The slide was led by the UAE bourses of Abu Dhabi and Dubai which dived by 7.8 percent and 6.2 percent, respectively, both trading at multi-year lows.. The Saudi Tadawul market, the region's biggest, was trading 3.3 percent lower despite a $13.3 billion stimulus announced the by the kingdom to support the economy..