It's A "Geopolitical Earthquake": A Stunned World Responds After Saudi Alliance Cuts All Ties With QatarVirtually nobody saw it coming.
Late on Sunday night, the Saudi-led alliance of Gulf Arab states, Saudi Arabia, the UAE and Bahrain including Egypt, shocked the world when they announced
they had severed ties and closed borders with one of the Gulf's wealthiest, if smallest, neighbors Qatar, a (now former) member of the Gulf Cooperation Council in what we called a "geopolitical earthquake" and what Bloomberg dubbed "an unprecedented move designed to punish one of the region’s financial superpowers for its ties with Iran and Islamist groups in the region."

And speaking of Qatar's wealth, while the country has a population smaller than Houston, it has one of the world's largest sovereign wealth funds with over $335 billion investments in companies from Volkswagen, to Rosneft, Barclays, Credit Suisse and Tiffany's.

The stunned confusion explains the sudden, adverse reaction in Qatar assets, which saw the Qatar QE Index of stocks plunge tumble 8%, the most since 2009 to the lowest since January 2016...
http://www.zerohedge.com/news/2017-06-05/its-geopolitical-earthquake-stunned-world-responds-after-saudi-alliance-cuts-all-tie