Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good afternoon. Thanks for joining us today.
Let's start with the Federal Reserve, where Chairman Powell says the Fed is going to look at tapering its asset purchases sooner. He says the American economy is very strong, but he also said it's probably time to stop calling inflation "transitory." Tell us about his remarks.
In Europe, inflation in 19 countries that use the Euro hit a record high of 4.9 percent last month. Energy costs were a big part of that. What's the inflation situation now in Europe, and what effects might that have?
Because of the remarks on tapering from Powell at the Fed, the main stock indices on Wall Street were down on Tuesday from around 1-and-a-half percent to almost two percent. A lot of volatility right now. What's happening in the global markets?
Today, we saw a rebound in Korean stocks, which were perhaps oversold in the past week or so. The session before was the lowest level on the KOSPI in a year. Tell us about the domestic market.
Last month, Korea's exports reached a new monthly high, surpassing 60 billion U.S. dollars. The country also posted a trade surplus again, as it's done every month going back to the early months of the pandemic. Both export volume and prices were up for a second straight month. Tell us which sectors are driving this strength in exports and what stands out to you.