Updated
Updated · Yonhap News Agency · Jul 24
KOSPI Opens 1.35% Lower at 7,000.78 as Trump Weighs Massive Iran Attack
Updated
Updated · Yonhap News Agency · Jul 24

KOSPI Opens 1.35% Lower at 7,000.78 as Trump Weighs Massive Iran Attack

2 articles · Updated · Yonhap News Agency · Jul 24

Summary

  • 96.11 points vanished from Seoul's benchmark KOSPI at the open, leaving it at 7,000.78 as investors locked in recent gains.
  • Wall Street set the negative tone overnight, with the S&P 500 down 1.21% and the Nasdaq off 2.15% as the Middle East war showed little sign of easing.
  • Donald Trump added to market anxiety by saying he is considering a "massive attack" on Iran beyond earlier strikes.
  • Brent crude futures climbed above $100 a barrel after Yemen's Houthis said they attacked ships in the Red Sea, deepening fears of a wider regional disruption.

Insights

Beyond the market panic, who are the hidden economic winners profiting from the escalating chaos in the Middle East?
As the US-Iran war spreads to the Red Sea, what is the next economic domino to fall in this escalating global crisis?