Qatar stock index tumbles 5.5pc at open after rift with Saudi, GCC states

DUBAI: Qatar's stock market plunged at the opening on Monday after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Doha, accusing it of supporting terrorism.

The Qatari stock index sank 5.7 percent in the first five minutes of trade. Some of the market's top blue chips were hit hardest, with Vodafone Qatar, the most heavily traded stock, sliding 8.9 percent.

Qatar National Bank, the country's largest bank, dropped 4.6 percent.