South Korean Stock Market Plunges at Opening, Mirroring Overnight US Decline Amid Renewed Iran Tensions

Deep News06-04

South Korean shares opened sharply lower on Thursday, tracking the overnight slump in US markets, as tensions in the Middle East between the US and Iran flared up again.

The KOSPI index opened down 177.67 points, or 2.02%, at 8,623.82 points.

The benchmark index had closed at a record high of 8,801.49 points on Tuesday. The market was closed on Wednesday for a national election.

US stocks finished lower overnight on concerns that a further escalation in US-Iran tensions could derail prospects for a peace agreement.

The Dow Jones Industrial Average fell 1.21%, the S&P 500 dropped 0.74%, and the tech-heavy Nasdaq Composite declined approximately 0.9%.

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