Saudi & UAE market collapse

unknownuser

Peace,

Does anyone know what is going on in these two countries as their stock markets have collapsed recently? I am wondering what is going on.

Thanks

A

ILisa

Peace,

Well, I'm in UAE and as I see it, imho, (as a non-business oriented lay person) is that a lot of folks jumped on the stock market bandwagon and bought and bought and bought, all with the hopes of getting some cash, and as soon as it looked like they had made some cash, they all cashed in. The market then crashed. The Emiratis as a general population are quite good at playing 'follow the leader' which cannot be very good for maintaining a stock market. Right? If everyone buys during the same period of time and then sells during the same period of time, it sends the market reeling ---from bull to bust.

jankren

Wow 'Black Thursday' hits Arabia.

zenje

Interesting. And I thought UAE was doing tremendously well economically.

Peace

unknownuser

and yesterday, at school on the internet, i have read that UAE economy had gone through tremendous amount of inflation! confused

peace, rifat

ILisa

Yes, it's true. And the most riduculous thing is that we pay about the same price as the U.S. for petrol! You'd think it'd be cheap with the refinery just down our road!!!

unknownuser

Thanks for the responses folks. It seems tulipmania indeed. Perhaps, there is a lot of repatriation of funds from the US and struggling to find a home.

Peace,

A