The Qatari stocks, which were on the verge of a bull market, suffered a blow resulting from escalating feuds with its Gulf neighbors, Bloomberg has reported.

 

The Qatar Exchange Index was five points away from completing a 20 percent gain on Monday since a November low, before falling as the UAE said the country’s fighter jets intercepted two of its commercial planes.

 

Qatar's index tumbled 2.5 percent on heavy selling in the final half-hour of trade, ending a seven-day rising streak.

 

The gauge was last year’s worst performer among 96 benchmarks tracked by Bloomberg in local currency terms, after a group of countries led by Saudi Arabia cut diplomatic and transport ties with Qatar.