(Bloomberg) --
The United Arab Emirates imposed a 5% daily lower fluctuation limit for shares as markets in Dubai and Abu Dhabi joined a global rout.
Some shares may be allowed to drop as much as 7%, according to a statement posted on the website of the Securities & Commodities Authority. It didn't provide further details.
Dubai and Abu Dhabi's main stock indexes are both down 32% this month. The earlier fluctuation limit was 10%.
To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net
To contact the editor responsible for this story: Paul Wallace at pwallace25@bloomberg.net
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