Qatar's shares dropped significantly Wednesday after the US and Switzerland launched a criminal investigation on FIFA corruption charges, Reuters reported Thursday. Other Gulf states' stock markets also stumbled as oil prices continued to remain low.
Swiss authorities opened a criminal case against the FIFA leaders suspected of mismanagement and money laundering involved in Russia and Qatar's rights to host the 2018 and 2022 World Cups. According to Reuters the Doha index earlier dropped to 2.8 percent, which would make the index at a one-month low of 12,067 points. It improved later in the day but still ended in a 1.5 percent drop.
Heavyweight Qatar National Bank dropped 2.5 percent and Ezdan Holding, previously thriving this month, lost 3.3 percent.
Dubai's index fell 1.7 percent to 3,992 points, while Abu Dhabi's dropped 0.9 percent.
