The KOSPI fell 5.35% to the 7,200 level today (July 8), marking another sharp decline following yesterday's drop.

The KOSPI, which fell 4.91% yesterday, has now declined for three consecutive days this week, including a 0.46% drop last Monday.

The KOSPI closed at 7,246.79, down 409.52 points from the previous trading day.

Due to the sharp decline in the index, the total market capitalization of the KOSPI shrank to approximately 5,931 trillion won.

This marks the first time the KOSPI market cap has fallen below 6,000 trillion won at closing since May 20, seven weeks ago.

The index opened at 7,452.48, down 203.83 points (2.66%) from the previous session. It briefly turned upward in early trading, rising 1.77% to 7,791.66, but subsequently reversed course and plummeted 6.14% to 7,186.21, briefly sliding to the 7,100 level.

At 1:31 p.m., a sell-sidecar was triggered for one minute as the KOSPI 200 futures index fell by more than 5%.

Following this, a sell-sidecar was also triggered for the KOSDAQ market at 1:33 p.m.

Today, the KOSDAQ index closed at 785.00, down 46.23 points or 5.56%. It is the first time in about 10 months since September 4 of last year that the KOSDAQ index has fallen below the 800 level during intraday trading.

Meanwhile, the won-dollar exchange rate closed at 1,498.5 won as of 3:30 p.m., down 29.7 won.

(Photo: Yonhap News)