South Korean stocks plummeted over 6 percent Monday, as the Middle East crisis does not show signs of easing amid an extended standoff between the United States and Iran over the Strait of Hormuz. The Korean won fell to the lowest in 17 years against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 375.45 points, or 6.49 percent, to 5,405.75.
The index had experienced extreme volatility since the outbreak of the Iran war, falling by more than 12 percent on March 4, before a sharp rebound in the next session, only to fall again by more than 5 percent the following week.
The KOSPI opened sharply lower, triggering the country's main bourse operator to temporarily halt program trading for five minutes.
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