Abu dhabi: The United Arab Emirates has announced the closure of its capital markets from Monday until further notice.

According to Qatar News Agency, the Securities and Commodities Authority stated that trading would be suspended across the country's exchanges, including the Abu Dhabi Securities Exchange and the Dubai Financial Market.

The authority mentioned that it would continue to closely monitor developments in the region. It will assess the situation on an ongoing basis and take any additional measures deemed necessary in light of emerging developments.