[Anchor]

As the conflict between the United States and Iran intensifies, international oil prices have surged accordingly. Amid an already upward trend in interest rates, concerns are rising that high oil prices will further stimulate inflation and fuel additional rate hikes, causing the KOSPI to plummet by nearly 4%.

Reporter Min Gyeongho has the details.

[Reporter]

When the United States and Iran resumed their war of words over the Strait of Hormuz, international oil prices reacted immediately.

West Texas Intermediate rose 5.2%, breaking back above $90 for the first time since last June.

The sharp spike in international oil prices heightened concerns that inflationary pressures would prolong, leading to a rise in Treasury yields.

The yield on the benchmark 10-year U.S. Treasury climbed to around 4.8%, marking its highest level since January 2025, while long-term bond yields in major economies rose across the board.

The KOSPI took a direct hit.

It closed down 3.99% at 6,562, declining for the first time in three trading sessions since August 28, while Samsung Electronics and SK Hynix both slumped in the 4% range.

Some analysts suggest that the market reacted even more sensitively to the situation in the Strait of Hormuz because Federal Reserve Chair Kevin Warsh hinted at monetary tightening during his Jackson Hill speech on August 28, amplifying expectations for rate hikes.

[Interview / Kim Dong-won / Head of Research, KB Securities: As uncertainties in the Middle East expand and high international oil prices persist, concerns over interest rate hikes are bound to remain.]

Experts analyze that the short-term direction of the stock market will be determined by the U.S. interest rate decision on the 16th and the U.S. Consumer Price Index results on the 11th, which will have a major impact on it.

(Video filming: Choi Hojeon | Video editing: Kim Hojin)