(CNN) -- Standard & Poor's move lowering the U.S. credit rating from AAA to AA+ shook global markets over the weekend as traders reacted to the news. Shares dipped across the Middle East Sunday as the region's exchanges were among the first global markets to open since the historic downgrade. Israel's  stock market fell more than 6%, and the Tel Aviv 25 Index ended the trading day down  6.99%. The Dubai Financial Market (DFM) General Index fell 3.7% on Sunday. And the General Index on the Abu Dhabi Securities Exchange lost 2.5%. In Saudi Arabia, the Tadawul All-Share Index gained less than 0.1% after dropping nearly 5.5% Saturday.
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NEW: G-7 nations will hold a conference call to discuss the downgraded rating
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Shares dip across the Middle East as markets open
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Israel's Tel Aviv 25 index ends the trading day down 6.99%
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The Dubai Financial Market (DFM) General Index falls 3.7%
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