KOSPI Drops 775 Points: Citi Says Take Half Off the Table
KOSPI Plunges 775 Points in Three Days: Citi Warns 'Take Half Off the Table' as Foreign Selling Hits 100 Trillion Won The numbers from Seoul this week are genuinely hard to process. KOSPI dropped another 3.25% on May 19, closing at 7,271.66. That makes three straight days of selling — 6.12% on Black Friday (May 15), another 4%-plus on May 18, and now this. From the 8,046 level three sessions ago, the index has shed 775 points, or 11.2%. About 680 trillion won in market value — a figure that actually exceeds Samsung Electronics' entire market cap of roughly 500 trillion won — just evaporated. The VKOSPI volatility index has been brushing against 80 — territory last seen during the March Middle East war flare-up. Circuit breakers on the sell side triggered for the fourth straight day at the open. Nobody I talked to on the floor could remember a stretch quite like this outside of 2008 or the worst days of COVID. The Crash by the Numbers The damage spread across ...