The KOSPI plummeted by more than 7 percent today (July 2), falling below the 8,000-point mark.

The KOSPI closed at 7,648.09, down 655.32 points or 7.89 percent from the previous trading session. This marks the first time in 15 trading days that the index has closed below the 8,000 threshold since it recorded 7,763.95 on June 11.

The index opened at 7,933.10, down 370.31 points or 4.46 percent from the previous close. After slipping below the 8,000 mark for the first time in 15 trading days during the session, the decline deepened. Although it briefly recovered to the 8,100 level during the day, it expanded its losses in the latter half of the session, sliding to as low as 7,616.33 at one point.

The KOSDAQ index also closed at 866.72, down 62.63 points or 6.74 percent. With this, the KOSDAQ index fell below the 900-point level for the first time in four trading days.

As the sharp decline continued, sidecars—which temporarily suspend program trading orders—were triggered in both the KOSPI and KOSDAQ markets today.

(Photo: Yonhap News)