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Stock impact report

South Korea stocks pummeled amid government turmoil following declaration of martial law [Yahoo! Finance]

Coupang, Inc. Class A (CPNG) 
Company Research Source: Yahoo! Finance
He cited threats from North Korean forces and the opposition party's actions as reasons for the move. South Korea's parliament overturned the order by popular vote, which helped stabilize markets. South Korean stocks plunged on Tuesday after the country's president proclaimed martial law was in effect. The country's stock market does not open until 7 p.m. ET, but shares of South Korea-based companies that trade on the Nasdaq and New York Stock Exchange declined. The iShares MSCI South Korea ETF plunged 7% following South Korean President Yoon Suk Yeol's declaration, while shares of the e-commerce company Coupang , which serves the country, plunged 10%. KB Financial Group saw its shares decline 6%, while the steel company POSCO Holdings declined 8%. The South Korean won plunged as much as 3% relative to the US dollar. Yoon, a member of the country's conservative People Power Party who took office in 2022, accused the opposition party of holding South Korea hostage by rejec Show less Read more
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