South Korea Halts Trading as Global Markets Plunge

Trading on the Korean Stock Exchange was halted after the Kospi and Kosdaq indexes plunged over 10% during morning trade, triggering a circuit breaker in their worst session since August 2024. This severe downturn was driven by escalating conflict in the Middle East, which has caused global markets to drop significantly, with Japan's Nikkei down almost 4% and Hong Kong's Hang Seng Index down 3%. Analysts noted that South Korea, which imports 94% of its oil from the Middle East, was particularly vulnerable to panic selling. The geopolitical shock, intensified by US strikes on Iran and threats to the Strait of Hormuz, has caused crude oil prices to skyrocket. One crypto researcher labeled the event the "WORST geopolitical shock since 1973," noting that $3.2 trillion in global stock market value has evaporated recently, though crypto markets saw a less severe reaction.

(Source：Cointelegraph)