KOSPI Starts Down Over 2% Amid US Interest Rate Cut Pace Adjustment Announcement
On the 19th, the KOSPI opened at 2,426.55, down 57.88 points (2.33%) from the previous session.
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This is interpreted as a result of the U.S. Federal Reserve's December Federal Open Market Committee (FOMC) regular meeting, where it was projected that the number of future interest rate cuts would be about two times, fewer than the market expectation of four times, indicating a slowdown in the pace of rate cuts. Furthermore, Fed Chair Jerome Powell's reiteration during the press conference that the pace of future rate cuts would be slowed also worsened investor sentiment.
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