SEOUL, Aug. 31 (Yonhap) -- Seoul shares opened sharply lower Monday, tracking losses on Wall Street amid the possibility of an imminent rate hike by the U.S. Federal Reserve caused by hawkish comments from its chief last week.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 175.30 points, or 2.58 percent, to 6,618.58 at the opening bell.
On Friday (U.S. time), the Dow Jones Industrial Average fell 0.02 percent, while the tech-heavy Nasdaq Composite declined 0.52 percent.
In his first major speech as Fed chair, Kevin Warsh warned that inflation remains a concern, leaving the door open to further interest rate hikes at its annual Jackson Hole symposium in Wyoming on Friday.
This photo taken Aug. 28, 2026, shows the dealing room of Hana Bank in Seoul after the market close. (Yonhap)
kyongae.choi@yna.co.kr
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