The United Arab Emirates stock markets fell in early trade due to fears of a prolonged regional conflict between Iran and the West, as the war in the Middle East approaches its two-week mark. The escalation has raised concerns about disruption to regional trade and energy flows, particularly through the Strait of Hormuz. U.S. President Donald Trump has criticised Iran's leadership and Iran's new Supreme Leader, Mojtaba Khamenei, has stated that Tehran will keep the Strait closed and urges neighbouring countries to shut U.K.