Oil prices saw a slight uptick amid concerns over potential disruptions from a U.S. blockade of Venezuelan tankers. Markets are also keenly awaiting developments on a possible Russia-Ukraine peace deal. Meanwhile, Ukraine’s drone strike on a Russian oil tanker in the Mediterranean signals escalating tensions in the ongoing conflict.
South Korea’s KOSPI drops 7% as global chipmaker selloff deepens
South Korean stocks experienced a significant decline on Tuesday. This downturn was driven by a global selloff in chipmakers and rising competition from China. SK