Korean Stocks Tumble to Brink of Bear Market on Iran War Risks

South Korean stocks slumped as rising Middle East tensions drove oil prices higher, fueling inflation concerns and damping risk appetite in the tech-heavy market.

The Kospi Index closed 4.3% lower on Tuesday, extending its decline from a record high in late February to nearly 20%, the threshold typically considered a bear market. Samsung Electronics Co. and SK Hynix Inc., the country’s two most valuable stocks, were the biggest drags, dropping more than 5% each.