Korean stocks suffer worst crash ever as Iran war hits chipmakers
South Korea's main stock index, the KOSPI, lost 12 percent on Wednesday, sending retail investors into a panic as fears of energy shortages due to the war in Iran battered shares in chipmakers and…
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Oil shock fear hits Asian tech stocks while European selloff pauses
In South Korea, the KOSPI benchmark closes down 12%, its largest drop on record. Investors there are dumping chipmakers on fears of an oil price shock due to the widening Middle East war, raising inflation and delaying interest rate cuts.
By Reuters
Read full article →Korean stocks suffer worst crash ever as Iran war hits chipmakers
South Korea's main stock index, the KOSPI, lost 12 percent on Wednesday, sending retail investors into a panic as fears of energy shortages due to the war in Iran battered shares in chipmakers and industrial giants. Meanwhile, Donald Trump says the US will insure oil tankers transiting the Persian Gulf as operating costs skyrocket, and the travel industry suffers as key Middle East hubs remain out of commission.
By Bryan QUINN
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