The stocks market in the United Arab Emirates (UAE) on Sunday suffered further losses, days after the US threatened to escalate its tariff campaign against China, according Xinhua.
The ADX General Index, lead index of the stocks market in the UAE capital Abu Dhabi, dived 1.83 percent, closing at 4,602.88, where 21 shares declined.
Market bellwether Emirates Telecommunication Group Company, also known as Etisalat, lost 1.72 percent, finishing the session at 17.1 dirhams (4.66 US dollars) per share.
Meanwhile, the Dubai Financial Market General Index fell 0.4 percent to 3,071.09, where market heavyweight Emaar Properties, the most actively traded stock on Sunday, dropped 0.54 percent to 5.55 dirhams per share, the lowest level since February 2016.
The shares of Sharjah-based Gulf General Investment Company plummeted 9.79 percent to 0.29 dirham per share, representing record low in years.
The decline in the UAE stocks market came three days after US President Donald Trump threatened to impose tariffs on imports of 100 billion dollars from China because of the latter's countermeasures against Trump's earlier proposal to impose additional tariffs on Chinese imports worth of 50 billion dollars.
China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices, a spokesperson with the Chinese Ministry of Commerce said Friday.