Kospi opens sharply lower after U.S.-Iran talks end without progress
Published: 13 Apr. 2026, 09:36
A vessel off the coast of Musandam, Oman, in the Strait of Hormuz on April 12. [REUTERS/YONHAP'
Korean stocks opened sharply lower on Monday, the first trading day since the talks between Washington and Tehran ended without any progress, and U.S. President Donald Trump announced a blockade of the Strait of Hormuz.
The benchmark Kospi opened at 5,737.28, down 121.59 points, or 2.08 percent.
Over the weekend, the United States and Iran held face-to-face negotiations in Pakistan, but the talks ended without an agreement.
Following the breakdown in the talks, Trump announced on social media that the U.S. Navy would blockade the Strait of Hormuz. The U.S. military said the measure would take effect at 10 a.m. on Monday.
The United States and Iran announced a two-week cease-fire last Tuesday, but the agreement is now at risk.
The local currency weakened by 5.7 won to trade at 1,487.8 won against the greenback as of 9:15 a.m.
Yonhap
with the Korea JoongAng Daily
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