Coronavirus Fears Sap Stock Investor Sentiment
14 March, 2020
The World Health Organization's declaration of a coronavirus pandemic has sent the U.S. currency markets into freefall while bourses around the world followed suit.
Amid the escalating coronavirus emergency, stocks on Wall Street Thursday saw their worst losses because the Black Monday crash of 1987.
The Korea Composite Stock Price Index closed down another 3.87 percent on Thursday at 1,834.33 points, the lowest seen since Aug. 24, 2015, when China's stock market crashed.
A circuit breaker was activated for the very first time in more than eight years. The junior Kosdaq plunged 5.39 percent to 563.49 points.
Trading was briefly suspended again on Friday soon after opening, as the KOSPI nosedived by more than eight percent to as low as 1,685.08 points at one point.
Amid growing concerns over the financial fallout of coronavirus, the Bank of Korea is discussing a potential rate cut.
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