South Korean stock market halted after 8% crash

Apparently, South Korea's KOSPI index, plunged over 8% - its worst single-day drop since 1997 - triggering a 20-minute trading halt due to circuit breakers, erasing about $270 billion in market value.

Triggered by escalating Middle East tensions, including threats to the Strait of Hormuz, the crash stems from surging oil prices (Brent near $85/barrel) hitting South Korea's import-dependent economy, while chip stocks like Samsung fell sharply amid global sell-offs.

Despite the panic, sectors like defense and shipping gained on safe-haven demand, underscoring how geopolitical shocks amplify volatility in export-reliant markets; this event aligns with broader Asian declines and fuels recession fears worldwide.

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