Korean Stocks Suffer Worst Selloff Since 2024 Amid Iran War Risks

• South Korean stocks slumped as Middle East tensions fueled concerns over rising energy costs.
• The benchmark Kospi sank 7.2%, its worst session since August 2024, with global funds offloading over $3 billion in equities.
• Chip heavyweights Samsung Electronics Co. and SK Hynix Inc. dropped at least 9.9% each, shaving $170 billion from their combined market cap.
• An extended conflict involving Iran risks elevated crude prices, reinforcing inflation risks and complicating Federal Reserve policy.
• Foreign investors led the selling, offloading 5.4 trillion won ($3.7 billion) worth of Kospi stocks, while retail investors bought a similar amount.