KOSPI falls 2.97% as won hits 17-year low on Monday
South Korea's stock market had a rough Monday, with the KOSPI index sliding 2.97% and the South Korean won hitting its weakest level in 17 years.
The sell-off was sparked by worries over rising tensions in the Middle East, after Iran launched missiles at Israel and an attack was launched from Yemen.
Regulator to deploy 100 trillion won
To calm things down, the country's financial regulator said it will actively utilize market-stabilising programs of 100 trillion won ($65.84 billion) and expand them if needed.
While chip exports are expected to grow this month, investors are still uneasy about higher import costs and inflation.
Meanwhile, big names like Samsung and SK Hynix saw their shares fall, but LG Energy Solution managed a gain.
Foreign investors also pulled out billions, showing just how cautious everyone's feeling right now.