The benchmark Korea Composite Stock Price Index(KOSPI) on Friday plunged 79-point-26 points, or three-point-18 percent, closing the day at two-thousand-416-point-76.

The tech-heavy KOSDAQ also dropped sharply, losing 41-point-94-points, or four-point-81 percent. It closed the day at 829-point-68.  

Stocks across Asia plunged following U.S. President Donald Trump’s decision on Thursday to impose tariffs on up to 60 billion dollars worth of Chinese imports. 

China retaliated by announcing its own tariffs of up to 25 percent on three billion dollars worth of U.S. goods, sparking worldwide fears of a trade war.  

On the foreign exchange, the local currency weakened nine-point-five won against the dollar, ending the session at one-thousand-82-point-two won.