South Korea suspends trading as major indices drop over 10% due to Middle East crisis

The Kospi and Kosdaq indices dropped over 10% on Wednesday, prompting a trading halt. This marked their worst performance since August 2024 due to fears stemming from the ongoing conflict in the Middle East.

Other Asian markets, including Japan and Hong Kong, also suffered losses, with Japan’s Nikkei down almost 4%. Investors are increasingly worried about the implications for South Korea’s economy, which heavily relies on Middle Eastern oil.