Stocks in Qatar slumped to their lowest in more than a year Monday after five countries severed relations with the Gulf state.
Saudi Arabia, Bahrain, the United Arab Emirates, Yemen and Egypt have broken off diplomatic relations with Qatar over what they claim is its support of terrorism. Qatar said move is “unjustified.”
Qatar’s benchmark stock exchange plunged as much as 8% on Monday. Energy stocks were particularly hard hit, with Qatar Gas Transport Company and Qatar Fuel Company Q.S.C. both dropping more than 10%.
