Dennis Gartman, founder of The Gartman Letter: The Dubai problem has "legs," with plenty of potential ramifications that remain to be seen, Gartman told CNBC.
"What's taken capital markets, stock markets higher these past few months has been a growing optimism. ... The fact that Abu Dhabi has not come immediately to the aid of its sister emirate raise concerns, raises confusion," he explained.
"And I have a saying: confusion breeds contempt."
