South Korea’s Kospi Index Drops More 12% On Mideast Worries

South Korea’s benchmark Kospi index tumbled more than 12 percent on Wednesday as Middle East turmoil sparked a prolonged sell-off across world markets.

The Kospi dropped 12.6 per cent to 5,065.14 in early afternoon trade, as investors globally ran to the hills in the wake of the US-Israel bombing of Iran that has sparked fears of a region-wide war.

That came after it had tumbled 7.2 per cent…