▲ This Reuters file photo shows a vessel at the Strait of Hormuz, off the coast of Oman's Musandam Governorate on April 12, 2026. (Yonhap)

stocks-open

Seoul stocks open sharply lower on failed U.S.-Iran peace talks

SEOUL, April 13 (Yonhap) -- South Korean stocks opened sharply lower Monday, the first trading day since the talks between Washington and Tehran ended without any progress while U.S. President Donald Trump announced a blockade of the Strait of Hormuz.

The benchmark Korea Composite Stock Price Index (KOSPI) opened at 5,737.28, down 121.59 points, or 2.08 percent.

Over the weekend, the United States and Iran held face-to-face negotiations in Pakistan, but the talks ended without an agreement.

Following the breakdown in the talks, President Trump said on social media that the U.S. Navy would blockade the Strait of Hormuz. The U.S. military said the measure would take effect at 10 a.m. Monday (U.S. time).

The U.S. and Iran had announced a two-week ceasefire on April 7, but the agreement is now at risk.

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