Qatar Assets Add Up Losses as Tension With Arab States Grows
- Main stock index had its worst weekly performance since 2014
- Yields jump on most liquid dollar bonds as S&P cuts rating
Qatari Assets Pile Up Losses Amid Blockade
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Investors in Qatari stocks, bonds and currency forwards have been saddled with losses since the country was thrust into the epicenter of an unprecedented spat with its neighbors.
The country’s stock market shrank by about $11 billion in value on Tuesday, the most since 2010, after Middle Eastern countries including Saudi Arabia and the United Arab Emirates cut ties with the Gulf nation. Its most liquid bonds tumbled last week as the sovereign rating was cut and bets against Qatar’s currency surged. Contracts to protect against a potential default rose, surpassing those of Peru and Slovenia.