South Korea’s benchmark stock index, the KOSPI, continued its sharp decline for the fourth consecutive day on Wednesday, in the wake of Donald Trump’s victory in the U.S. presidential election last week. 

On Wednesday, the KOSPI fell by 65-point-49 points, or two-point-64 percent, closing at two-thousand-417-point-08. 

The U.S. dollar strengthened against the South Korean won, driven by concerns over the incoming Trump administration, with its protectionist trade and tariff policies. 

This marks the KOSPI’s lowest closing level in nearly a year since November 13, 2023, when it closed at two-thousand-403-point-76.

The index opened at two-thousand-468-point-27, down 14-point-30 points, or zero-point-58 percent from the previous close, and widened its losses throughout the day.

The KOSPI’s market capitalization fell to one-thousand-970 trillion won, dipping below the two-thousand-trillion-won level for the first time since August’s “Black Monday.”

The tech-heavy KOSDAQ dropped by 20-point-87 points, or two-point-94 percent, to close at 689-point-65.

It marks the first time the KOSDAQ has fallen below 700 during trading since September 9.

Meanwhile, the South Korean currency traded at 14-hundred-six-point-six won per dollar as of 3:30 p.m. Wednesday, three-point-one won weaker than the price at Seoul’s closing time Tuesday, as it further buckled past the psychological threshold of one-thousand-four-hundred won per dollar.

The won opened at one-thousand-410 won at 9 a.m., six-point-five won weaker than the previous day, and fluctuated between one-thousand-403-point-seven and one-thousand-410-point-six won.

Tuesday marked the first time since November 7, 2022, that the exchange rate at Seoul’s closing time exceeded 14-hundred won per dollar.