Seoul shares open sharply lower, tracking US losses, amid inflation woes

Seoul shares opened sharply lower Friday, tracking losses on Wall Street, as the latest US inflation data raised the possibility of the US Federal Reserve raising interest rates to curb inflation. After opening 3.29 percent lower, the benchmark Korea Composite Stock Price Index narrowed the losses, dropping 183.12 points, or 2.6 percent, to 6,850.80 as of 9:15 a.m. Overnight, surging oil prices sparked a sell-off in US stocks amid escalating tensions in the Middle East. The Dow Jones Industrial

Source: The Korea Herald