The escalation of the US Iran conflict dragged down the Gulf stock market, and Qatar's QE Index fell 0.8%

The Qatar stock market led the decline in most major Gulf markets, as the conflict between the United States and Iran escalated on the largest scale since the 60 day peace agreement was reached. The International Monetary Fund report shows that Qatar is the commodity producer most directly affected by energy output and transportation disruptions, with Qatar's QE Index falling 0.8%, Saudi Arabia's benchmark index falling 0.4%, and Dubai Financial Market General Index falling 0.2%.