# South Korea stocks plunge, country raises coronavirus alert to 'highest level'

> South Korea's Kospi fell 3.87% after the country raised its coronavirus alert to the highest level and reported 161 new cases with seven deaths. Korean Air and Asiana suspended flights to Daegu, and regional airline shares also dropped.

- Date: 2020-02-23 · published 2020-02-23T12:00:00.000Z
- Category: disease · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/54824-south-korea-stocks-plunge-country-raises-coronavirus-alert-to-highest-level
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Equity selloffs and airline disruptions signal weaker regional economic activity and risk appetite, which pressures demand-linked commodities and supports the dollar.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-22 | [Crudes Fall 4% Week Over Week as China's Lockdowns Stoke Demand Fears](https://feedsoft.ai/events/41762-crudes-fall-4-week-over-week-as-china-s-lockdowns-stoke-demand-fears.md) | +2.5% | +2.0% |
| WTI | 2020-01-29 | [US Fed leaves rates unchanged; warns coronavirus could hurt US \| Al Jazeera Mirror](https://feedsoft.ai/events/54997-us-fed-leaves-rates-unchanged-warns-coronavirus-could-hurt-us-al-jazeera-mirror.md) | -7.1% | -8.8% |
| WTI | 2021-11-26 | [Oil crashes as coronavirus strain threatens demand recovery \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/4773-oil-crashes-as-coronavirus-strain-threatens-demand-recovery-oil-and-gas-news-al.md) | -15.0% | -5.7% |
| WTI | 2020-01-30 | [How coronavirus, climate change and OPEC will continue to move crude oil prices](https://feedsoft.ai/events/55264-how-coronavirus-climate-change-and-opec-will-continue-to-move-crude-oil-prices.md) | -4.6% | -11.6% |
| WTI | 2020-02-03 | [Oil hits 13-month lows as coronavirus cuts demand](https://feedsoft.ai/events/7406-oil-hits-13-month-lows-as-coronavirus-cuts-demand.md) | -2.4% | -9.3% |
| WTI | 2020-01-27 | [Oil hits more than 3-month low on fears coronavirus will slow growth](https://feedsoft.ai/events/55262-oil-hits-more-than-3-month-low-on-fears-coronavirus-will-slow-growth.md) | -4.7% | -5.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/02/24/asia-markets-south-korea-coronavirus-currencies-china.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.