The real downdraft in the Gulf region is Qatar, where the Doha market is down 22.6% year to date. Same story. Huge increase (500% since January 2000), bubble signs recently, free fall in recent days/weeks.
Investors in America need to pay attention to the local markets in the oil patch. Best way to do so? You can get free daily price quotes from my friends at Global House in Kuwait. And you can get a weekly summary of the business and economic stories from the region’s press from MENAFN.