South Korean Stocks in US Markets Tumble

South Korean stocks traded in US markets experienced a significant decline on Tuesday, following President Yoon Suk Yeol's declaration of martial law. This move has sparked concerns about a deepening political crisis in the country.

The iShares MSCI South Korea ETF dropped by 6%, reaching a 52-week low. Captivision, a manufacturer of architectural media glass, saw its shares fall by 18% at 10:53 am ET. Coupang LLC, South Korea's largest online retailer, also experienced a 6% decline, while POSCO and Hyundai Motor DRC saw their shares decrease by 5% and 3.36%, respectively.

On the currency front, the US dollar gained 1.76% against the won, selling at 1,428.74 within a minute of the martial law declaration.