--- title: "Korean Stocks Plunge 7%; Nikkei Drops Below 53,000 to One-Month Low; Global Indices Suffer Heavy Losses; Oil Prices Break 100 Mark" type: "News" locale: "en" url: "https://longbridge.com/en/news/278296320.md" description: "On March 9, South Korea's KOSPI index plunged 7%, while Japan's Nikkei 225 fell below 53,000, marking a one-month low. Global indices suffered significant losses, with Dow futures dropping over 1,000 points. Oil prices surged past $100 due to supply disruptions, raising concerns about inflation and economic growth. The U.S. Dollar Index rose, while gold and Bitcoin also experienced declines. Analysts warn that rising oil prices could lead to stagflation, impacting the global economy." datetime: "2026-03-09T00:59:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278296320.md) - [en](https://longbridge.com/en/news/278296320.md) - [zh-HK](https://longbridge.com/zh-HK/news/278296320.md) --- # Korean Stocks Plunge 7%; Nikkei Drops Below 53,000 to One-Month Low; Global Indices Suffer Heavy Losses; Oil Prices Break 100 Mark TradingKey - On Monday, March 9, Japanese and South Korean stock indices plummeted at the open, with South Korea's benchmark KOSPI diving 7% as heavyweights like Samsung and SK Hynix led the decline. KOSPI 200 futures fell 5%, triggering a circuit-breaker mechanism that suspended program trading for five minutes. The Nikkei 225 index saw its losses reach 6%, falling below the 53,000 mark for the first time since early February, while the broader Topix index dropped more than 5%. On the news front, disrupted shipping in the Strait of Hormuz and output cuts by major Middle Eastern oil producers sent WTI crude futures surging as much as 22%, surpassing the $110 mark; Brent crude futures jumped 20% to $111.04 per barrel. Meanwhile, U.S. natural gas futures hit a one-month high. Oil prices firmly breaking above $100 triggered investor fears of rebounding inflation and cooling economic growth. Stephen Innes, managing partner at SPI Asset Management, said the rally is more than a commodity bounce; it acts as a tax on the global economy, leading central banks to contemplate stagflation. Driven by these factors, global equity indices retreated, with Dow futures at one point plunging more than 1,000 points, while S&P 500 and Nasdaq 100 futures both shed about 1.7%. During Monday's Asian session, the U.S. Dollar Index broke above 99.5, rising 0.6% on the day, as non-U.S. currencies broadly weakened. Gold dropped to a low of $5,030, its lowest level in seven days. Bitcoin saw its losses reach 2%, falling below $66,000. Find out more ### Related Stocks - [3042.JP](https://longbridge.com/en/quote/3042.JP.md) - [1346.JP](https://longbridge.com/en/quote/1346.JP.md) - [3175.JP](https://longbridge.com/en/quote/3175.JP.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [IEO.US](https://longbridge.com/en/quote/IEO.US.md) - [XLE.US](https://longbridge.com/en/quote/XLE.US.md) - [1787.JP](https://longbridge.com/en/quote/1787.JP.md) - [2899.JP](https://longbridge.com/en/quote/2899.JP.md) - [XOP.US](https://longbridge.com/en/quote/XOP.US.md) - [2525.JP](https://longbridge.com/en/quote/2525.JP.md) - [1369.JP](https://longbridge.com/en/quote/1369.JP.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) - [YCS.US](https://longbridge.com/en/quote/YCS.US.md) - [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md) ## Related News & Research - [Oil rises more than 1% after drone attack on UAE nuclear power plant](https://longbridge.com/en/news/286683769.md) - [Capital Economics sees oil at $150 per barrel through 2027 in an extreme case](https://longbridge.com/en/news/286549728.md) - [ROI-ENERGY WATCH: Alarms and clocks](https://longbridge.com/en/news/286796437.md) - [Dow futures plunge 300 points: 5 things to know before market opens](https://longbridge.com/en/news/286549150.md) - [US 30-year Treasury yield tops 5% for first time since 2007](https://longbridge.com/en/news/286322610.md)