KOSPI Plunges 4.7% in Regional Sell-Off
South Korean and Japanese stock markets experienced sharp declines at the opening bell, reflecting deepening investor anxiety over global geopolitical risks. South Korea's KOSPI index plummeted 4.7% at the start of trading, while Japan's Nikkei 225 index opened 2.5% lower.
The downturn was part of a broader retreat across Asian markets. In Hong Kong, the Hang Seng index sank 1.9% as traders reacted to heavy losses on Wall Street and the escalating conflict in the Middle East. The synchronous decline across major Asian exchanges signals a significant flight from risk assets.
Iran Tensions Drive Oil Above $100
The sell-off in equities is directly linked to renewed fears about the war with Iran. With Iran tightening its control over the critical Strait of Hormuz, a key artery for global oil transport, crude prices advanced significantly. The price for a barrel of Brent crude, the international benchmark, climbed 4.8% to settle at $101.89.
This spike in energy prices fueled a rout on Wall Street. The S&P 500 slumped 1.7% in its worst session since January, while the tech-heavy Nasdaq Composite fell 2.4%, pushing the index into a technical correction more than 10% below its all-time high. The Dow Jones Industrial Average dropped 469 points, or 1%, underscoring the widespread market impact.
Tech Stocks Tumble as Treasury Yields Rise
Rising geopolitical risk and higher oil prices pushed government bond yields higher, pressuring equity valuations. The yield on the 10-year U.S. Treasury note jumped to 4.43%, increasing borrowing costs and weighing heavily on growth-sensitive sectors like technology.
Major technology stocks led the declines in the U.S. market. Meta Platforms fell 8% and Alphabet sank 3.4%, while chipmaker Nvidia dropped 4.2%. The sharp rise in yields diminishes the present value of future earnings, making high-growth tech companies particularly vulnerable to valuation resets during periods of market stress.
Edgen Stock·Mar 30 2026, 04:18