South Korean Markets Hit Steepest Monthly Drop Since 2008
South Korean shares fell 4.3 percent Tuesday for their worst month since 2008. The won weakened past 1,500 per dollar as investors fled to safer assets.
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Financial markets in South Korea experienced their most significant selloff since the 2008 financial crisis on Tuesday, as escalating geopolitical conflict in the Middle East triggered a global retreat from risk assets. The benchmark KOSPI index plummeted 4.3%, marking a nearly 20% decline from its record high in late February and approaching a technical bear market. This monthly drop of 19% represents the steepest decline for the index in over 17 years.
