There is no way of telling what world events will change the dynamics of the stock market. 9/11 shocked the world but markets recovered. Bank of Dubai problems will pass also. This is a buying opportunity!
Here is the thing with Dubai: After catching overseas market action and news at work, I come home and tell my wife about the bloodletting going on. It came as no surprise to her. She said she has been reading about problems in Dubai for quite a while. So if someone that does not follow the market knew about issues, the big money likely knew also.