South Korean stocks dropped Wednesday, spurred by sell-offs from overseas investors in the wake of U.S. President Donald Trump’s revelation that a second Washington-Pyongyang summit will not be held before the midterm elections in early November.

The benchmark Korea Composite Stock Price Index(KOSPI) lost one-point-12 percent, closing the day 25-point-22 points lower. It ended the day at two-thousand-228-point-61, a record low for this year. 

The tech-heavy KOSDAQ also hit a record yearly low, losing 19-point-65 points, or two-point-56 percent. It closed at 747-point-five.

On the foreign exchange, the local currency weakened one-point-three won against the dollar, to end the session at one-thousand-134 won.