U.S. stocks ended higher on Monday. The Dow Jones Industrial Average rose 202.86 points, or 0.44 percent, to 46,448.27. The Standard and Poor's 500 added 102.13 points, or 1.55 percent, to 6,705.12. The Nasdaq Composite Index increased by 598.92 points, or 2.69 percent, to 22,872.01.
Nine of the 11 primary Standard and Poor's 500 sectors ended in green, with communication services and technology leading the gainers by rising 3.94 percent and 2.49 percent, respectively. Meanwhile, consumer staples and energy led the laggards by dropping 1.32 percent and 0.32 percent, respectively.
U.S. stocks close higher
Tanzanians doing business in the Middle East have been forced to scale down or cease operations altogether, as the U.S.-Israeli war on Iran disrupts global travel.
In early March, Tanzanian authorities sent a special flight to bring home more than 200 citizens from Dubai.
Mustapha Khatow, who runs the travel agency Sky Link Travel and Tours, said he has spent nearly four decades in the tourism industry, moving between Dubai and Tanzania, serving both corporate and leisure travelers. But the recent tensions involving Iran and the disruption to flights and business have hit hard, forcing him to relocate his family back to Tanzania.
"Tanzanian travel agents in the whole, they have been hit, because we've had huge cancellations for Eid, people going to Dubai, for Easter holidays, going to Dubai. So, we have lost a big chunk of people who do not wish to go to Dubai at this time," he said.
The impact is being felt beyond tourism. Supply challenges linked to the conflict have pushed up global oil prices, raising concerns for import-dependent economies like Tanzania. Authorities say they are taking measures to cushion businesses and maintain steady fuel supplies.
Aviation and tourism in the Middle East have also taken a hit. In Dubai, more than 80,000 travel bookings were canceled in the first week of the conflict as airports faced intermittent closures and uncertainty, leading to millions of dollars in losses.
Reports indicate that visitor arrivals in the Middle East could decline by between 11 percent and 27 percent in 2026. Travel industry professionals like Khatow view the downturn as collateral damage from the conflict and hope for a swift resolution to help revive tourism.
"Those big traders who bring containers to Tanzania, they have a challenge because of the shipping lines getting delayed, freight charges going up. And again, another issue is Air Tanzania has not been flying to Dubai since then, apart from one repatriation flight," he said.
Khatow said diplomacy will be key to restoring stability, while accurate reporting can help limit further damage to businesses.
US-Israeli war on Iran disrupts travel businesses from Tanzania
