Dubai Market Tumbles 7% Amid Ongoing Concerns About the Emirate’s Credit Problems

Stocks in Dubai plunged more than 7% Monday, the first day of trading after the Persian Gulf state’s debt problems roiled financial markets around the world. The index for the Dubai Financial Market, the emirate’s main stock exchange, ended the day down 7.3% at 1,940.36. It was the first day of trading since Dubai World, the state-run investment vehicle, requested a six-month delay on payments it owes on a roughly $60 billion debt load.