File - Investors watch a monitor at Dubai Financial Market April 27, 2014. REUTERS/Mounir Saidi
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Bourses in the United Arab Emirates suffered their biggest losses in months Tuesday as a slide in construction firm Arabtec, Dubai's most heavily traded stock, triggered a chain of margin calls that forced a broad sell-off.Dubai's benchmark closed down 6.7 percent, its biggest daily loss since last August, after tumbling as much as 8.7 percent at one stage. At least 10 stocks fell by their 10 percent daily limits.Abu Dhabi's bourse sank 3.4 percent, its biggest drop since January 2011, with eight stocks limit-down.Tuesday's drop extended the stock's loss this month to 53 percent, triggering margin calls for leveraged retail investors.
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