The benchmark Korea Composite Stock Price Index(KOSPI) closed at its lowest level in nearly 14 months on Monday as the impending imposition of trade tariffs by the U.S. and China weighed on investor sentiment. 

The KOSPI lost 54-point-59 points, or two-point-35 percent, amid a selling spree from institutional investors to close the day at two-thousand-271-point-54.  It marked its lowest level since May 10th 2017.  

The tech-heavy KOSDAQ also plummeted, losing 28 point-40 points, or three-point-47 percent, closing at 789-point-82. 

On the foreign exchange, the local currency weakened five-point-five won against the dollar, ending the session at one-thousand-120 won.

On Friday, the U.S. is set to impose a 25 percent tariff on up to 50 billion dollars worth of Chinese products. In a retaliatory move, China will raise import duties on 34 billion dollars worth of American goods as the trade tensions between the two nations continues to escalate.