On the first day of Ramadan, trading volumes at the Dubai Financial Market (DFM) plummeted 35% to 43.91m shares changing hands. The DFM Index weakened 0.91% to 1,482.58 points after the U. S. Fed said that "the pace of recovery in output and employment has slowed in recent months", adding that it still expects the economy to grow, but the improvement will be "more modest in the near term than had been anticipated." Shuaa Capital, which reported a second-quarter loss of Dhs56.6m ($15m) compared to a profit of Dhs91.7m in the year-earlier period, ended 4.55% lower at Dhs0.945. Islamic Ajmanbank bucked the fickle market trend by adding 1.32%, closing at Dhs.0.765.