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Iran-led oil shock sends KOSPI tumbling; watch oil price direction

South Korea's KOSPI plunged as worries spread that a sharp rise in oil prices sparked by the Iran situation could reignite U.S. inflation. The index fell 5.97 percent and a circuit breaker was triggered for the second time this month, the first such two-time activation within a month since March 2020. Oil prices jumped above $100 a barrel for WTI and above $116 for Brent and WTI. Analysts warned of heightened stagflation fears and foreign selling.