South Korean Stocks Plunge 2.7% as U.S.-Iran Escalation Drives Global Markets Lower

South Korean stocks began the trading day in steep decline, with the Korea Composite Stock Price Index falling 184.73 points, or 2.7%, to 6,651.07 by 9:15 a.m. The drop mirrored losses on Wall Street, where U.S. markets closed lower amid fears of prolonged conflict between the United States and Iran. The U.S. military strikes on Iran had pushed oil prices higher, fueling concerns over inflation in the world's largest economy. The Korea Herald reported that the decline in South Korean stocks was directly tied to the U.S.-Iran conflict, which had already caused significant volatility in global financial markets. Yonhap News Agency, while confirming the sharp decline in Seoul stocks, provided only a brief headline and no specific numerical data or time details. The Korea Herald, however, included detailed figures and linked the market reaction to the broader geopolitical tensions. The conflict between the United States and Iran, which had already seen multiple rounds of military strikes, continued to escalate, with both sides exchanging attacks. The resulting rise in oil prices created a ripple effect across global markets, with inflation fears intensifying and investors seeking safe-haven assets.