U.S. President Donald Trump is a bigger concern to financial markets than North Korean dictator Kim Jong Un -- judging by traders’ reactions this year.
South Korea’s Kospi stock index was down 0.8% in afternoon trading Wednesday, hours after Trump told reporters “North Korea best not make any more threats to the United States,” Trump told reporters in Bedminster, New Jersey. “They will be met with fire, fury and, frankly, power the likes of which this world has never seen before.”
Traders in Seoul, about 24 miles from the border with the nuclear-armed North, also took the won down 0.9 percent. That’s a bigger reaction than after North Korean provocations:
- Kospi fell 0.6% and won dropped 0.3% on July 4 after North Korea warned it would make an important announcement (which turned out to be an ICBM launch)
- Kospi rose 0.1% and won gained 0.3% on July 31, the first trading day after the second ICBM launch
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