EWY is trading at $165.76, down 3.2%, following a sharp risk-off move in Korean equities triggered by unexpected monetary tightening.
- The Bank of Korea delivered a surprise 25bp rate hike to 2.75%, catching markets off guard and pressuring growth-sensitive stocks.
- South Korea's KOSPI index plummeted 6.6%, weighing heavily on the ETF's significant exposure to large-cap companies and the semiconductor sector.
- Tighter monetary policy is amplifying concerns over growth prospects for major Korean exporters within the fund's portfolio.