South Korea's Kospi drops 7% as Middle East tensions unsettle global markets

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South Korea's benchmark Kospi index fell sharply by 7% on Monday amid escalating Middle East tensions and a spike in global oil prices. The sell-off was led by major technology stocks, with semiconductor giants Samsung Electronics and SK Hynix among the hardest hit. The decline heightened investor concerns about stretched valuations in AI-linked chip companies. The broader global market was also rattled as rising geopolitical risks dampened risk appetite. Despite the steep single-day loss, the Kospi still ranks among the best-performing stock indices globally for the year.

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