Global Stock Market Trends — March 31, 2026

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1. South Korea Market Wrap-Up

• KOSPI drops below 5100: As of the afternoon session on March 31, the KOSPI faced heavy selling from foreign investors, causing it to slide back under the 5100 level. Shinhan Securities analyst Kang Jin-hyeok noted that the semiconductor index—led by Micron—struggled due to downward revisions in laptop and smartphone shipment forecasts and the impact of TurboQuant.

• Over 23 trillion KRW in foreign selling in March: According to reports by the Seoul Economic Daily, the combination of a prolonged Middle East war and the shock surrounding Google’s memory-saving tech, "TurboQuant," led foreign investors to net sell over 23 trillion KRW worth of Samsung Electronics and SK Hynix shares throughout March.

  

• Individual investors holding the line: With the KOSPI index down about 12% this month alone—marking the poorest performance among major economies—domestic market volatility due to geopolitical tensions has hit extreme levels. Kim Jong-min, a researcher at Samsung Securities, stated that investors should keep a close eye on Samsung Electronics' Q1 earnings announcement coming in early April.

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2. Key U.S. Market Trends

• Dow rises while Nasdaq dips: According to Yahoo Finance, President Trump’s remarks regarding ending the war with Iran—amid the blockade of the Strait of Hormuz—helped the Dow see a slight gain. However, the S&P 500 and Nasdaq ended lower as chip stocks slid and U.S. crude oil surged past $100.

• Market rallies on Trump’s comments: Sentiment reversed quickly after further comments from President Trump regarding the potential end of the war, sending the Dow, S&P 500, and Nasdaq surging. Crude oil, however, remained above $100.

• Caution on S&P 500 correction: Jay Woods, NYSE insider for CNBC, warned that with other indexes already in correction territory, investors need to watch the S&P 500's key support levels. As the Iran war enters its second month, persistent volatility and rising oil prices remain a significant drag on the market.

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3. Global Macro Factors

• Oil tops $100 / Middle East risk: U.S. crude prices have climbed above $100 as the U.S.-Iran conflict continues. A Schwab report on the morning of the 31st noted that "stocks rose early on as oil pushed above $100, even as Treasury yields fell." Uncertainty remains high, as the U.S. has set a deadline for holding off on strikes against Iranian energy facilities for 8:00 PM ET on April 6.

• Google’s "TurboQuant" shock / Semiconductor slump: The launch of Google’s memory-saving tech, TurboQuant, is hitting the semiconductor industry—particularly Samsung Electronics and SK Hynix—and negatively impacting global chip indexes. This, combined with lowered shipment outlooks for laptops and smartphones, is accelerating the exit of foreign investors.

• Fed commentary and policy uncertainty: According to Money Today, the market is also focused on comments from Federal Reserve officials. The direction of the Iran war and signals from Chair Powell ahead of the upcoming FOMC meeting are influencing overnight futures markets.

Note: All figures are provided verbatim; '—' is used where data is unavailable.