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South Korea's Market Plunges 7.23%, $270 Billion Lost: Can India Avoid the Fallout?
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South Korea Market Plunges 7.23%, $270 Billion Wiped Out Amid Iran War Fears
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CNBC Awaaz
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03-03-2026, 13:43
South Korea Market Plunges 7.23%, $270 Billion Wiped Out Amid Iran War Fears
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South Korea's KOSPI index plummeted 7.23%, wiping out $270 billion in market value in a single day.
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This marks the largest one-day decline since the August 2024 yen carry trade crisis.
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Tech giants like Samsung Electronics and SK Hynix saw nearly 10% drops, dragging the index down.
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Middle East tensions and rising oil prices are fueling investor concerns, creating a 'risk-off' mood.
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Despite the crash, the Korean market's year-long performance remains strong, up 37% this calendar year.
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