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Korean Stocks Plummet Amid Iran War Fears, Worst Drop Since 2024
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Korean Stocks Suffer Worst Selloff Since 2024 Amid Iran War Risks
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Moneycontrol
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03-03-2026, 13:22
Korean Stocks Suffer Worst Selloff Since 2024 Amid Iran War Risks
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South Korean stocks slumped as Middle East tensions fueled concerns over rising energy costs.
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The benchmark Kospi sank 7.2%, its worst session since August 2024, with global funds offloading over $3 billion in equities.
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Chip heavyweights Samsung Electronics Co. and SK Hynix Inc. dropped at least 9.9% each, shaving $170 billion from their combined market cap.
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An extended conflict involving Iran risks elevated crude prices, reinforcing inflation risks and complicating Federal Reserve policy.
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Foreign investors led the selling, offloading 5.4 trillion won ($3.7 billion) worth of Kospi stocks, while retail investors bought a similar amount.
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