The Aftermath of the New York Stock Market Plunge; Decline in KOSPI and Asian Markets

# Asian Markets Decline Amid U.S. Stock Plunge The sharp decline in U.S. stocks has reverberated across global markets, leading to a downturn in major Asian stock indices on the 11th. The Kospi opened lower, with Japanese and Taiwanese markets also showing significant weakness. As of 11:45 a.m. Korea Time, Japan's Nikkei 225 Index had dropped 1.74%, South Korea's Kospi fell by 1.50%, and Taiwan's TAIEX index was down 1.82%. China's Shanghai Composite Index slipped 0.21%, while the CSI 300 Index declined by 0.34%. Hong Kong's Hang Seng Index was down 0.62%, and the Hang Seng China Enterprises Index fell 0.24%. Previously, the U.S. market closed significantly lower with the Dow Jones Industrial Average plummeting 2.08%, the S&P 500 Index dropping 2.70%, and the Nasdaq Composite falling 4.00%. The Nasdaq, which is heavily weighted with technology stocks, recorded its largest drop in two and a half years, adversely impacting Asian markets. Among major U.S. tech firms, Tesla led the decline with a 15.43% plunge. The tech downturn carried over to major Asian tech stocks, with notable declines in companies such as Samsung Electronics (-0.65%), SK Hynix (-1.76%), and Taiwan's TSMC (-2.30%). Alongside this, concerns over a potential U.S. economic recession have heightened, weakening investor sentiment. President Donald Trump remarked in an interview that although he hesitates to forecast a recession, he acknowledged that the situation is transitional, thus not ruling out the possibility of an economic downturn. This has added to market anxiety. The cryptocurrency market also faced losses. As of 11:44 a.m. Korea Time, Bitcoin had decreased 4.09% over the past 24 hours and 5.29% over the past week, settling at $79,101 and failing to hold the $80,000 level. In major foreign exchange markets, despite a drop in the dollar index, the preference for safe-haven assets drove the USD/KRW exchange rate higher. As of the same time, the USD/KRW exchange rate was up 4.80 won from the previous session, standing at 1,457.10 won per dollar, reflecting a weaker Korean won.