The geopolitical fallout affected Asian stocks. South Korea’s KOSPI index fell by around 8%, dropping to the 7,400 level as and SK Hynix both plummeted by around 8-9% at the open.
As a result, at around 9:03 am, the KOSPI’s decline exceeded 8%, triggering a circuit breaker that stopped the trading for 20 minutes.
Before the emergency mechanism kicked in, the Korea Exchange said the index lost 685.85 points from its previous close.
Other major companies, including Samsung SDI (-9%), LG Electronics (-12.7%), and Hyundai Motor (-10%), also plummeted by nearly 10% as they start the week.
The Nikkei index in Japan fell by over 3%, and investors around the region headed for safer investments.
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