As U.S. President Donald Trump intensifies his tariff war, global stock markets have plummeted. Concerns over escalating trade tensions caused export-heavy sectors, including semiconductors and automobiles, to decline sharply. On Monday, KOSPI fell by more than 2%, Japan’s Nikkei by 2.66%, and Taiwan’s Taiex by 3.53%. The won-dollar exchange rate also surged to 1,470 won at one point due to the strengthening U.S. dollar.
KOSPI closed at 2,453.95, down 2.52% from the previous day, with foreign investors continuing their ‘panic selling,’ offloading over 800 billion won in KOSPI alone after selling 1.1756 trillion won on Friday. Major exporters were hit hard, including Kia (-5.78%), which operates a plant in Mexico, and LG Energy Solution (-4.40%), which has a facility in Canada. Semiconductor firms, such as SK hynix (-4.17%), also suffered losses as they became the next target for tariffs.
Market analysts warn that the trade war is escalating faster and on a larger scale than anticipated, as countries retaliate against the U.S.'s aggressive tariff measures. On the 4th, Trump announced a 25% tariff on Canadian and Mexican imports and a 10% tariff on Chinese goods, while also vowing to impose tariffs on the European Union (EU).
이동훈 기자 dhlee@donga.com