Seoul stocks open sharply lower on Fed chief's hawkish comments
Mar 8, 2023
South Korean stocks opened sharply lower Wednesday on renewed fears over further sharp rate hikes after the Fed chief's hawkish comments. The benchmark Korea Composite Stock Price Index was down 28.76 points, or 1.17 percent, to 2,434.59 in the first 15 minutes of trading. Federal Reserve Chair Jerome Powell cautioned Tuesday that "The ultimate level of interest rates is likely to be higher tha...