Seoul Stocks Plummet on Warsh's Hawkish Warning

Seoul's stock market opened sharply lower on Monday due to hawkish comments from Federal Reserve Chair Kevin Warsh, which raised concerns over a potential interest rate hike next month.

The benchmark KOSPI initially dipped by 2.58% before trimming its losses as retail investors stepped in with buying activity.

Despite this, the index still traded lower at 6,655.62, down 1.96%, with tech stocks leading the decline.

Samsung Electronics and SK hynix fell by 2.24% and 2.36%, respectively, while Hyundai Motor declined 0.44%.