Abu Dhabi - Mubasher: UAE stock markets saw a significant decline in the early hours of Monday's trading, affected by US President Donald Trump's announcement that he would impose new tariffs on 184 countries, which came into effect. This dealt a major economic shock and setback to most countries worldwide .

During today's trading, at 11:30 a.m. UAE time, the Dubai Financial Market (DFM) index fell 5.87 percent to 4,660 points, amid trading volume of 176.610 million shares, valued at AED 494.450 million, distributed across 10,928 transactions.

This came amid a decline in Union Properties shares by 8.86 percent, Union Cooperative by 3.08 percent, Tecom Group by 5.29 percent, Talabat by 9.42 percent, Taaleem Holding by 6.59 percent, and Shuaa Capital by 9.67 percent.

Meanwhile, the Abu Dhabi Securities Exchange index fell 3.99 percent to 8,819 points, amid trading volume of 183.511 million shares, valued at AED 527.224 million, distributed across 15,509 transactions.

This came amid a 2.88 percent decline in Abu Dhabi Aviation shares, 8.25 percent in Abu Dhabi Commercial Bank, 4.43 percent in Abu Dhabi Islamic Bank, 6.50 percent in ADNOC Distribution, 7.95 percent in ADNOC Defence, and 8.54 percent in ADNOC Logistics.