Korean-related assets plummet, and the won falls to a two-year low
ChainCatcher news, according to Jinshi reports, after the South Korean president announced a state of emergency, related assets in South Korea plummeted, raising investors' concerns about political instability and turmoil. The iShares MSCI South Korea ETF fell 5.1% in the U.S. market, marking the largest single-day decline since August 5. The exchange rate of the Korean won against the U.S. dollar dropped to its lowest level in over two years.Samsung Electronics' stock price listed in London fell by 5%. Arup Chatterjee, a strategist at Wells Fargo in New York, stated that in recent weeks, as the market began to digest the possibility of increased tariffs under the leadership of Trump's new administration, domestic uncertainty in South Korea has intensified under external pressure.Other South Korean company ADRs also experienced declines. Coupang Inc. fell 6.9% in U.S. stocks, and Posco Holdings Inc. and KB Financial Group Inc. also saw declines.