South Korea Financial Markets
A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, March 6, 2026.
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Oil surges to its highest price since 2023, and stocks drop after a weak update on the US job market
Oil shot to its highest price since 2023 after surging again because of the Iran war, and a weak update on the U.S. job market knocked stocks lower to cap Wall Street’s worst week since October. The S&P 500 dropped 1.3% Friday. The Dow Jones Industrial Average plunged as many as 945 points before finishing with a loss of roughly 450, and the Nasdaq composite sank 1.6%. The combination of a weak economy and high inflation is a worst-case scenario for investors because the Federal Reserve has no good tool to fix both problems at the same time.
