Amid renewed fears of a U.S. economic recession, the benchmark Korea Composite Stock Price Index(KOSPI) plunged to the two-thousand-580 mark on Wednesday. 

The KOSPI tumbled 83-point-83 points, or three-point-15 percent, on Wednesday to close at two-thousand-580-point-eight. The last time the figure closed below the two-thousand-600 mark was on August 9 of last year.

The drop came after data released by the U.S.’ Institute for Supply Management found that the U.S. manufacturing Purchasing Managers’ Index (PMI) for August was lower than market expectations, sparking recession fears. 

On such woes, the Dow Jones Industrial Average shed one-point-51 percent and the tech-heavy Nasdaq dropped three-point-26 percent.
 
With American Software firm Nvidia losing more than nine percent in value, SK Hynix dropped more than eight percent to close at 154-thousand-800 won, or below the closing price of 156-thousand-100 won posted on August 5. 

Samsung Electronics also fell three-point-45 percent to close at 70-thousand won, which was also below the August 5 closing figure.