South Korea's benchmark KOSPI on Thursday fell to its lowest level this year... after U.S. stocks plunged the previous day. <br />For more, our Ko Roon-hee is on the line for us.<br />Roon-hee, tell us the latest.<br /><br />Ji-yoon, Korea's benchmark KOSPI dropped to its lowest this year... at one point hitting around 20-33. <br /> As of 11:20 this morning, it rebounded slightly to two-thousand-44-point-73...which is nearly two and a half a percent down from yesterday's close. <br />Today's numbers marked the first time it's hit below the 20-50 level since January last year. <br />And on Wednesday, the KOSPI closed below 21-hundred points, its lowest close since March last year.<br />This downward trend is affecting the market capitalization of Korea's largest companies. <br />According to local news outlets, KRX compared the market capitalization of 10 large companies including Samsung and LG from yesterday and from a month earlier... and found that market cap had decreased by 81-point-84 billion U.S. dollars.<br /><br />So, what is the reason for the fall? How did the U.S. markets do on Wednesday?<br /><br />Ji-yoon, all major indices on Wall Street fell on Wednesday... with some even wiping out gains made over the past year. <br />The Nasdaq dropped nearly 4-point-5 percent... losing more than 3-hundred-and-29 points. <br />It was the worst performer... and had its biggest single-day slide since August 2011.<br />The Dow Jones Industrial Average shed close to 2-point-5 percent or more than 6-hundred points. <br />The S&P 500 dropped over 3-percent, or nearly 85-points. <br />The Dow Jones Industrial Average and S&P 500 erased all of their gains for 2018.<br />Analysts say uncertainties about the local and global economy have led to this massive sell-off. <br />Investors have been worried about disappointing earnings reports from U.S. companies. <br />This is related to the intensifying trade tensions between the U.S. and China... and investors are worried that the impact of this trade spat is finally affecting corporate performances. <br />There are other reasons as well... like uncertainty surrounding the upcoming U.S. midterm elections and how it will affect the economic policies. <br />Analysts added that the expectation that the U.S. Fed will continue to raise interest rates has also contributed to the fall. <br /><br />That's all from me at this hour, Ji-yoon. <br />
