FILE - In this Thursday, Oct. 2, 2014 file photo, Emirati traders check the stocks of Emaar Malls on the screen at the Dubai Financial Market in United Arab Emirates. D(AP Photo/Kamran Jebreili, File)
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Dubai's index tumbled 7.3 percent to 3,084 points, a one-year low. The market has now retraced more than 50 percent of its massive rally from a multi-year low in January 2012 to this year's peak in May, a rise of 318 percent.Abu Dhabi's benchmark ended 6.9 percent lower, posting its biggest daily loss in five years and also hitting a one-year low.Saudi Arabia's bourse, which has the biggest share of petrochemicals among markets in the region, tumbled 7.3 percent in its biggest daily loss in six years and reached 7,330 points, its lowest level since June 2013 .The index has dropped 34 percent from its September peak.Saudi Arabia is expected to announce its 2015 budget by the end of this month, and possibly as soon as on Monday.Elsewhere in the region, Qatar's index tumbled 3.5 percent and Kuwait lost 2.1 percent. Oman's benchmark dropped 2.9 percent to 5,409 points, its lowest level since August 2012 .
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