KOSPI Plummets as Tech Sell-Off and Inflation Fears Hit Seoul

The Korea Composite Stock Price Index experienced a steep two-day decline, falling 2.28 percent to 6,474.95 on Monday before plunging another 4.03 percent to 6,126.65 on Tuesday. The downturn was driven primarily by a sell-off in technology stocks and heightened investor anxiety over global economic stability.

Monday's losses followed Houthi attacks on Saudi Arabia's main airport, which pushed oil prices higher and sparked fears of inflation and potential interest rate hikes by the U.S. Federal Reserve. Samsung Electronics and SK hynix both declined on Monday, while foreign investors sold a net 699.27 billion won in stocks. Despite the general slump, Kia and HMM recorded gains.

The decline accelerated Tuesday as losses in U.S. technology stocks and anticipation of upcoming U.S. corporate earnings and inflation data weighed on the market. Samsung Electronics fell 4.79 percent and SK hynix dropped 5.61 percent. Hyundai Motor Company also saw a significant decline of 5 percent. Investors remain focused on the U.S. consumer price index report due Wednesday to determine the Federal Reserve's policy direction for its October rate-setting meeting.