Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Yang Jun-sok, Professor of Economics at The
Catholic University of Korea.
Professor Yang, good afternoon.
Thank you as always for making time today.
Thank you.
There'd been expectations among many that the U.S. consumer prices on Wednesday would
show that inflation had peaked, but instead it came in higher than expected at 8-point-3
percent.
That led to another significant decline on Wall Street.
The hit, again, worse for tech shares the Nasdaq down more than 3 percent.
Tell us about that inflation data and the action in the global markets.
Korean stocks down sharply today too.
The KOSDAQ by almost three percent.
And the exchange rate shooting up to almost 12-90 against the dollar.
The Korean won is
basically
the weakest it's been
against the dollar since 2009.
What's the story here in the domestic market?
The price of oil is
back
up today... on concerns about supply with Russian gas being cut off.
West Texas Intermediate up
to
about 105 dollars.
A
lot of volatility right now.
Tell us about that, Professor, and where you see oil going from here.