What specific event in West Asia caused the KOSPI to drop?

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The KOSPI Declined Due to Escalated West Asian Tensions

South Korea's benchmark Korea Composite Stock Price Index (KOSPI) experienced a significant drop, leading to a 20-minute trading halt triggered by a marketwide circuit breaker. This market reaction occurred after investors became cautious due to renewed tensions in West Asia. The Korea Exchange (KRX) activated the circuit breaker at approximately 1:28 pm, as the KOSPI plunged over 8% from its previous closing price.
Exchange of Strikes Over the Strait of Hormuz

The primary catalyst for the KOSPI's decline was the exchange of fresh strikes between the United States and Iran concerning the status of the Strait of Hormuz. This development intensified existing geopolitical concerns in the West Asian region, prompting a wave of selling pressure on the South Korean stock market.
Investor Caution Amidst Regional Instability

Global investors adopted a cautious stance following the increased hostilities between the US and Iran. This heightened risk aversion, driven by the potential for further escalation in West Asia, directly impacted investor sentiment and led to significant outflows from the KOSPI. The market experienced heavy selling as a result of this prevailing uncertainty.
Frequent Activation of Circuit Breakers

The activation of the circuit breaker on this occasion was not unprecedented for the KRX this year. The marketwide trading halt was the seventh instance of the KRX triggering such a measure in the current year. This frequency underscores the volatility experienced by the market in response to significant global events.

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What specific event in West Asia caused the KOSPI to drop?

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