Qatari Markets Rocked as Four Arab Nations Cut Diplomatic Ties
- Yield on the country’s most liquid dollar notes surged
- Qatari stock benchmark became the worst performer in the world
Nomura's Fadlallah Says Qatari Market Will Be Hit Hard
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Qatar’s markets received a battering as four of the country’s Middle East neighbors cut ties in a row over its stance on Iran and Islamist extremists.
The nation’s dollar bonds tumbled and contracts used to bet the Qatari riyal will weaken surged the most since 2009. More than two-and-a-half times the daily average of shares changed hands on the key stock index in Doha, where many Muslims are fasting for the holy month of Ramadan, as the gauge slipped the most in more than seven years. With Monday’s selloff, the country’s main equity benchmark became the worst performer globally this year.