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The South Korean stock market plummets.
🇰🇷 The South Korean stock market dropped 7.23% immediately upon reopening, wiping out 390 trillion won (270 billion USD) in market capitalization.
This is the largest single-day decline since the yen interest rate arbitrage trading crisis in August 2024.
Monday, March 2nd, is a holiday, so this is the first opening of the KOSPI index since the start of the US/Israel and Iran conflict.
This decline was driven by accumulated selling pressure from geopolitical tensions in the Middle East and concerns over disruptions in global energy and oil supplies.