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Qatar stock index sinks 3.1 pct before deadline in diplomatic crisis

A file photo of Doha, Qatar.
JTB Photo | UIG | Getty Images

Qatar's stock market fell sharply on Sunday as a deadline for Doha to accept a series of political demands by four Arab states was expected to expire later in the day with no sign of a resolution.

The Qatari stock index sank as much as 3.1 percent in thin trade, bringing its losses to 11.9 percent since June 5, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and trade ties, accusing Doha of backing militants.

Stocks tumbled across the board on Sunday, with 41 lower and only one higher. Qatar National Bank, the largest listed lender in the Gulf, lost 3.1 percent.

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