Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon. Thank you for coming on.
It seems the Biden administration's massive stimulus and the reopening of the American economy is leading to the inflation that many had said would come. Prices are rising sharply for food, home appliances and other goods. What kind of effect do you think this will have in the global markets?
Stocks on Wall Street overnight were down from their recent highs, the decline led by tech shares. The Dow briefly rose above 35-thousand, but those gains were all gone by the end of the session, and the futures indicate another rout tomorrow. Tell us about the global markets on Monday and what caused this decline in tech.
Yesterday, the KOSPI rose to a new high, but today it closed sharply lower, in line with what we saw in the U.S. What's the story in the local market.
A fuel pipeline in the U.S. has been shut down for several days now because of a ransomware attack. That pipeline reportedly supplies 45 percent gasoline and jet fuel to the U.S. east coast. Tell us about that, and also, for oil, prices holding steady about where they've been for a couple of months.