How South Korea’s whirlwind stint of martial law jolted markets

South Korean President Yoon Suk Yeol’s surprise decision to impose martial law in South Korea for the first time in more than 40 years – and then just as swiftly reverse course – sparked whiplash in the country’s foreign-traded assets and caught global markets off guard, at one point sending US Treasury yields lower as traders sought a haven from potential instability.

In an emergency address delivered live to the nation, Yoon stunned voters, lawmakers and investors alike by declaring martial law on Tuesday after accusing the opposition of trying to paralyse his administration.

Bloomberg