The largest exchange-traded fund to track the Qatar equity market fell in premarket trading on Monday, after several countries cut their diplomatic ties with Qatar, citing it of backing terrorism. The iShares MSCI Qatar Capped ETF lost 1.4%, while Qatar stocks were on track for their biggest one-day percentage drop since late 2014, down 7.4%. Saudi Arabia, Egypt, Bahrain and the United Arab Emirates all broke diplomatic ties with Qatar on Monday, on accusation that it backs terrorism, a charge Qatar denies. The fund has been a weak performer of late, having dropped nearly 6% over the past three months.
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