Seoul Stocks Plunge Amid Middle East Conflict

Seoul shares plunged more than 12 percent Wednesday as the KOSPI tumbled 698.37 points (12.06%) to close at 5,093.54 amid escalating Middle East conflict. Trade volume was heavy at 1.6 billion shares worth 62.6 trillion won (US$42.5 billion), and the Korea Exchange triggered circuit breakers after an early sell-side sidecar. The won fell to 1,476.20 per dollar, and major caps posted double-digit losses.