South Korea Stocks Plunge 12% as Middle East War Fears Hit Global Markets

South Korea's Kospi index dropped 12.6% to 5,065.14 on Wednesday, following a 7.2% fall Tuesday, marking its worst two-day performance since 2008. The sell-off was triggered by the US-Israel bombing of Iran, sparking fears of a regional war. Oil prices surged over 10% this week, raising inflation concerns for export-dependent economies like South Korea, the world's fourth-largest oil importer. The Kospi had surged 50% this year on AI-driven tech gains, but now faces severe losses. Nigeria, also oil-dependent, may face similar economic pressures from rising oil prices.

SOURCE: https://www.channelstv.com/2026/03/04/south-koreas-kospi-index-drops-more-12-on-mideast-worries/