South Korea Stocks Plunge Amidst US-Iran Tensions
South Korea's stock market experiences a sharp decline as geopolitical tensions between the US and Iran escalate, sparking investor concerns over economic stability.
Seoul, South Korea - In a stark display of investor unease, South Korea's benchmark stock index plunged as much as 12.2 percent on Monday, marking the steepest single-day drop since the aftermath of the 9/11 attacks in 2001.
The tumultuous trading session came on the heels of heightened geopolitical tensions between the United States and Iran, with the US killing a top Iranian military commander in a drone strike, raising the specter of potential retaliation and a broader conflict in the Middle East.
The Korea Composite Stock Price Index (KOSPI), which tracks the performance of the country's largest publicly traded companies, opened sharply lower and continued its downward spiral throughout the day, ultimately closing 3.4 percent lower at 2,151.31.
Source: Al Jazeera
