Korea’s Lee Touts $68 Billion Emergency Fund After Volatility

South Korea’s President Lee Jae Myung highlighted the nation’s 100 trillion won ($68.2 billion) market stabilization program on Thursday as Seoul grappled with historic volatility tied to the escalating conflict in Iran.

The benchmark Kospi surged as much as 12% Thursday, the biggest intraday gain since October 2008, after sinking by about the same amount the day before in a roller coaster week linked to a global selloff as Middle East tensions spurred a flight from risk assets.