"The benchmark KOSPI index plummeted as much as 12.2 percent on Wednesday, eclipsing the 12.02 percent single-day plunge triggered by the September 11, 2001 attacks on the US and the 9.44 percent drop seen at the height of the 2008 financial crisis."
"Losses were spread across the board, hitting corporate giants such as Samsung Electronics, SK Hynix and LG Electronics. But shipping and logistics firms suffered the steepest losses amid the effective halt of traffic through the Strait of Hormuz, which carries about one-fifth of the oil consumed globally."
"The market meltdown is the latest example of economic shockwaves unleashed by the conflict in the Middle East. US stocks dipped overnight, with the benchmark S&P500 and tech-heavy Nasdaq Composite both falling about 1 percent after Wall Street shrugged off the conflict in the previous session."
South Korea's stock market experienced its worst trading day in history as the KOSPI benchmark index fell 12.2 percent, exceeding the 9/11 attacks' impact and 2008 financial crisis losses. The decline followed a 7.2 percent drop the previous day, marking the worst two-day period in decades. Trading halts were activated after losses exceeded 8 percent. Major corporations including Samsung Electronics, SK Hynix, and LG Electronics suffered significant losses, while shipping and logistics companies faced steeper declines due to disrupted traffic through the Strait of Hormuz, a critical global oil transport route. The market turmoil reflects broader economic consequences from escalating US-Israeli military operations against Iran, with global stock markets experiencing ripple effects.
Read at www.aljazeera.com
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