South Korea's KOSPI Drops Below 7,000 on July 14 as Trump's Iran Remarks Trigger Oil Price Surge

According to MoneyToday, South Korea's KOSPI index fell below 7,000 today (July 14), declining 1.64% to 6,695.44, after U.S. President Donald Trump's hawkish remarks on Iran sparked a sharp oil price surge. Trump stated that the U.S. would "very strongly" attack Iran and eventually control the entire Strait of Hormuz, with vessels to pay 20% of cargo value as compensation for passage. The comments revived inflation concerns and boosted expectations for potential interest rate hikes.

Global markets retreated sharply: the Dow Jones dropped 0.26%, the S&P 500 fell 0.79%, the Nasdaq declined 1.55%, and the Philadelphia Semiconductor Index plunged 4.78%. In South Korea, retail investors sold off 3.63 trillion won in equities, while institutions net bought 2.56 trillion won.