Qatar Conflict Sends Middle East Stock Indices Plunging

Middle East stock market indices experienced a sharp decline following heightened tensions between Arab nations and Qatar. The QE index in Qatar recorded the steepest fall, dropping over 7 percent. According to Bloomberg data, the QE index in Qatar plummeted 7.27 percent. Meanwhile, the Tadawul All Share index in Saudi Arabia fell 0.22 percent. The DFM General index in the UAE dropped 0.72 percent, and the BB All Share index in Bahrain fell 0.44 percent.

This decline is a consequence of the escalating tensions between Arab nations and Qatar. Previously, Saudi Arabia, Bahrain, and the United Arab Emirates (UAE) severed diplomatic ties with Qatar. This action was taken due to accusations that Qatar has supported terrorist groups. Egypt and Yemen also severed diplomatic relations with Qatar.