South Korean Stocks, Won Slump as Political Crisis Deepens
- Kospi gauge falls 2.8%, Kosdaq 5.2% as Yoon impeachment fails
- Officials to monitor financial markets, economy 24 hours
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South Korean stocks tumbled and the won approached its weakest level since 2009 following a weekend of political turmoil that left investors bracing for a period of heightened volatility.
The benchmark Kospi Index dropped 2.8%, and the small-cap Kosdaq Index slumped more than 5% to its lowest since April 2020. The won fell about 1% against the dollar, heading toward levels reached in the immediate aftermath of President Yoon Suk Yeol’s botched imposition of martial law early last week.