Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
South Korea GDP Surges on Chip and AI Boom 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
UK House Prices Fall for First Time Since 2023 
Gold Prices Rise as Yen Rally Weakens Dollar 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Add as a preferred source on Google
Shares of South Korean steelmakers tumbled Monday after U.S. President Donald Trump pledged to impose new tariffs on steel and aluminum imports.
POSCO (NYSE:PKX) Holdings fell as much as 3.6% to 230,500 won, hitting its lowest level since October 2022. Hyundai Steel (KS:004020) dropped 2.9%, reaching a record low.
Trump announced plans to implement a 25% tariff on all steel and aluminum imports into the U.S., escalating trade tensions. The proposed duties would be in addition to existing tariffs, further pressuring global metal markets and South Korean exporters.
The sell-off extended to South Korean automakers, with Hyundai Motor (OTC:HYMTF) slipping 0.7% and Kia Corp declining 2%. The broader KOSPI index also lost 0.5%.
Market analysts suggest the new tariffs could negatively impact South Korean steel and auto manufacturers, which rely on U.S. exports. Investors are closely monitoring further trade policy developments that could disrupt global supply chains.
