GCC stocks tumble on withdrawal of ambassadors from Qatar over failure to stop interference in their internal affairs « ArabianMoney:
"Gulf stocks took a surprise tumble on Wednesday after an announcement by the governments of the UAE, Bahrain and Saudi Arabia that they were withdrawing their ambassadors from Qatar because Doha had failed to implement an agreement not to interfere in each others’ internal affairs.
The QE Index plunged two per cent, the DFM lost 0.9 per cent, Bahrain slipped 0.2 per cent and the Tadawul ended down 0.5 per cent. Traders said the news came out-of-the-blue and unsettled the bourses. Uncertainty is something universally disliked by investors who always ask the question, what next?
Extreme resentment
The Qatari ambassador was summoned to the UAE Foreign Ministry earlier this month over ‘extreme resentment’ about Qatar’s failure to respond to public insults about the UAE by a cleric."
'via Blog this'
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