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Kospi opens sharply lower on renewed Trump tariff threats

Published: 11 Mar. 2025, 10:22

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 11. [NEWS1]

Seoul shares opened sharply lower Tuesday, following overnight Wall Street losses spurred by U.S. President Donald Trump's renewed tariff threats.

The Kospi lost 1.08 points, or 0.04 percent, to 2,562.40 in the first 15 minutes of trading.

Overnight, U.S. stock markets plummeted after Trump shared in an interview with Fox News his intent to push forward with high tariff policies.

The S&P 500 dipped 2.7 percent, and the Dow Jones Industrial Average declined 2.08 percent, while the tech-heavy Nasdaq plunged 4 percent.

In Seoul, major shares lost ground.

Samsung Electronics dropped 1.3 percent, and SK hynix plummeted 2.98 percent.

Hyundai Motor and Kia shed 1.01 percent and 0.71 percent, respectively. LG Energy Solution retreated 2.98 percent.

Defense equipment and steel shares also lost ground, with Hanwha Aerospace falling 2.14 percent and Posco Holdings down 3.86 percent.

The local currency was trading at 1,459.3 won against the U.S. dollar at 9:15 a.m., up 7 won from the previous session.

Yonhap