Live

Watch CBSN Live

Mideast indexes drop in first day of trading post-Brexit

Brexit market mayhem
Brexit market mayhem 01:09

DUBAI, United Arab Emirates - Stocks tumbled in the Middle East on the first day of trading since Britain voted to leave the European Union.

Should America worry about Brexit's economic ... 10:39

Dubai's main index was down 3.25 percent on Sunday. Abu Dhabi's index fell 1.85 percent. Other Mideast indexes, which trade from Sunday to Thursday, also tumbled.

The Saudi Tadawul index, the region's largest, was down 1.35 percent by mid-afternoon, while Egypt's EGX 30 saw a 5.6 percent drop during trading.

The British vote brought a massive dose of uncertainty to financial markets. Stocks plunged in the U.S. and worldwide Friday.

Oil prices also sank, with the benchmark U.S. crude declining 4.9 percent, to close at $47.64 a barrel in New York. Brent crude also fell 4.9 percent to $48.41 a barrel in London on Friday.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.