Korean Stocks Suffer Worst Selloff Since 2024 on Iran War Risks

South Korean stocks slumped as Middle East tensions stoked concern over the impact of rising energy costs, with global funds offloading more than $3 billion of local equities amid a wave of risk-off sentiment.

The benchmark Kospi sank 7.2% in its worst session since August 2024, as the market reopened after a holiday. Chip heavyweights Samsung Electronics Co. and SK Hynix Inc. dragged the gauge lower, dropping at least 9.9% each.