The benchmark Korea Composite Stock Price Index(KOSPI) shed 59-point-38 points, or two-point-41 percent, on Wednesday, to close at two-thousand-405-point-69.

The tech-heavy KOSDAQ also fell, dropping 33-point-62 points, or four percent, to close at 807-point-40.

On the foreign exchange, the local currency weakened 14-point-two won against the U.S. dollar, closing the day at one-thousand-363-point-five won.