Dubai Financial Market tumbled 4.7% as trading resumed Wednesday, following a two-day closure prompted by Iran's missile attacks. Emirates NBD Bank and Emaar Properties led the declines, while Abu Dhabi's market fell 2.9%. The UAE's Capital Market Authority closed both exchanges March 2-3 to protect markets amid hundreds of projectiles fired by Iran.

This disrupts the emirates' image as a Gulf stability haven, especially after Dubai's benchmark soared to a 2006 high in February on property and consumption growth. Temporary 5% limit down threshold implemented to curb volatility. Saudi stocks rebounded as oil prices surged, contrasting with regional weakness.