SEOUL — The sharp drop in South Korean stocks Wednesday (September 4) demonstrated how quickly Wall Street’s sudden stumble is reverberating around the globe.
The KOSPI index plunged 3% out of the gate amid US recession fears — and the risk Friday’s employment report will validate them.
The fallout from the mini-crash of US tech giant Nvidia Corp, which suffered a record-setting US$279 billion stock market rout on Tuesday alone, also shook markets.
But this dynamic is just one of three imperiling global markets. The others are China’s slackening demand for raw materials and its impact on commodity prices and the specter of continued Bank of Japan rate hikes.
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