Qatar’s stock market dropped 2.09 per cent on 5 March, after UAE, Bahrain and Saudi Arabia announced the withdrawal of their ambassadors from the country.

It marks the largest drop in months for Qatar Exchange, which has risen around 11 per cent year-to-date.

The country’s largest listed stocks dropped up to 7 per cent on 5 March, with Ezdan Holding and Ooredoo posting the biggest losses – 7.19 per cent and 7.02 per cent respectively. That was followed by Qatar National Bank’s drop of 3.34 per cent, while Industries Qatar decreased 0.52 per cent, and Masraf Al-Rayan was down 0.27 per cent.

The day’s drop brings its weekly loss to around 1.7 per cent.