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Qatar Defiance Fuels Stock Declines as Neighbors' Deadline Looms

Benchmark dropped the most in the Middle East on Sunday
Lender Qatar Islamic Bank contributed the most with loss

Bloomberg business news — Investors Weigh Qatar Deadline Extension

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July 2, 2017, 7:10 AM UTCUpdated onJuly 2, 2017, 11:32 AM UTC

Qatari stocks fell the most in the Middle East as the rift with Gulf neighbors showed no sign of easing ahead of a crucial deadline.

The QE Index, which resumed trading after a one-week public holiday, declined as much as 4 percent after Foreign Minister Mohammed Al Thani said the Gulf emirate is prepared to miss a deadline tomorrow to comply with demands set by a Saudi-led group of nations, threatening to extend a blockade of its air, sea and land links they imposed a month ago.