Stocks fall despite rate cut

Dealers at Hana Bank watch monitors in a dealing room at its office in Seoul, Tuesday. The benchmark KOPSI fell below the 1,700-mark, Tuesday, a day after the U.S. stock markets ― such as Dow Jones Industrial Average ― plunged amid mounting fears of the coronavirus pandemic. Despite the Bank of Korea's surprise base rate cut Monday, the KOSPI plunged again and closed at 1,672.44, down 2.47 percent from the previous trading day. The won-dollar exchange rate also surged to close at 1,243.5 won per U.S. dollar, up 17.5 won from a day earlier. Yonhap