Oct. 8--ADX, DFM SLUMP CONTINUES: The Dubai Financial Market lost a further 8.43 percent of it value, as 28 of the 32 listed stocks fell. Emaar's slump continued, with the shares falling 7.41 percent to Dhs5.50. The Abu Dhabi Securities Exchange fell 6.43 percent, with 32 of the 36 listed stocks falling.

KUWAIT CUTS DISCOUNT RATE: The Kuwait Central Bank has cut the discount rate by 1.25 percent to 4.5 percent in a bid to increase liquidity in the market. The measures come as traders called on the government to temporarily halt trading, and are due to go into effect today.

DOW FALLS FOR FIFTH STRAIGHT DAY: US stocks on Tuesday dropped for a fifth straight session, prolonging a sharp sell-off that had the S&P 500 ending at a five-year low. The Dow Jones ended down 508.39 points, or 5.1 percent, at 9,447.11. The Dow is now 1,400 points lower than where it stood at last Tuesday's close, reported CNNMoney.

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