SEOUL - South Korea's stock market witnessed a notable downturn today, with the KOSPI index plunging to its lowest level since mid-November. The index closed at 2,435.90, experiencing its sharpest fall since late October of the previous year. Major technology corporations, including Samsung (LON:0593xq) Electronics (KS:005930) and SK Hynix, along with industrial leader Hyundai Motor (OTC:HYMTF), saw their share prices decline.
The downward trend in South Korea reflected a broader slump in global markets. Wall Street also ended the day in the red, with key indices such as the Dow Jones Industrial Average, NASDAQ, and S&P 500 all closing lower. Market sentiment was affected by the release of stronger-than-expected U.S retail sales data for December, coupled with a rise in industrial production. These indicators suggested a more robust economy, which in turn diminished investor anticipation of potential Federal Reserve rate cuts.
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