Traders study an electronic share price display at the Doha Stock Exchange in Qatar. Middle East stocks declined ahead of the Eid holidays. Image Credit: Reuters

Dubai: The political standoff between Saudi, UAE and Qatar had a spill over on stock markets, with Qatari stocks tumbling more than 7 per cent, the sharpest fall in months.

Four Arab nations including the United Arab Emirates and Saudi Arabia cut diplomatic ties to Qatar early Monday morning, impacting the local equities.

Qatar stock exchange index was 7.97 per cent lower at 9,192.61, after falling to a low of 9.152.21.

The Dubai Financial Market General Index was 2.02 per cent lower at 3,273.96. The Abu Dhabi Securities Exchange general index was at 4,458.84, down 0.54 per cent.

The Tadawul index in Saudi Arabia was down 0.52 per centat 6,891.61.