DUBAI, Aug 23 (Reuters) - United Arab Emirates stock markets slid in early trade on Sunday in response to further weakness in oil prices and the decision by Fitch Ratings to cut its outlook for Saudi Arabia's debt because of cheap oil.
The main stock index in Dubai
Among major losers, Dubai's largest property firm, Emaar Properties
U.S. oil
With a relatively diversified economy and strong government finances, the United Arab Emirates is better placed than most Gulf economies to ride out an era of cheap oil.
But investors are concerned that a further plunge in the Saudi stock market and slowing growth there could have an impact on asset prices around the region.
(Reporting by Andrew Torchia; editing by Matt Smith) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
Keywords: MARKETS STOCKS/GULF