The Kospi index in South Korea fell by 11.3% following tensions in the Strait of Hormuz, despite Trump's offer to protect the ships.

Global markets suffered a significant drop on Wednesday, despite Donald Trump's proposal to have the U.S. Navy escort tankers through the Strait of Hormuz. The conflict in the Middle East has effectively led to the closure of the strait, generating fears of an energy supply crisis. The Kospi index in South Korea was suspended after an initial drop of 11.3%, later stabilizing at a loss of 7.7%. Oil prices continued to rise, with Brent crude reaching $82.53 per barrel. Trump attempted to calm fears related to disruptions in the global oil market, stating that the U.S. Navy will ensure the free flow of energy. At the same time, Goldman Sachs warned that markets will need a few weeks to assess the impact of military actions in the region.