Qatar Stocks Drop to 2-Year Low as Oil Rout Batters Gulf Markets
- Bloomberg GCC Index falls to lowest level since December 2012
- Abu Dhabi banking index slides to lowest in two years
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Qatar’s stocks declined to the lowest level in more than two years, leading a retreat across the six-nation Gulf Cooperation Council, after oil extended losses from the lowest close since 2004.
The QE Index dropped a fourth day, slipping 2 percent to its weakest close since September 2013. Saudi Arabia’s Tadawul All Share Index fell 1.8 percent to the lowest level since November 2011. The Bloomberg GCC 200 Index, which tracks 200 of the region’s top companies, fell 1.6 percent to a three-year low.