South Korea's stock markets closed sharply lower Wednesday following Iran's missile attacks against U.S. forces in Iraq.

The benchmark Korea Composite Stock Price Index(KOSPI) lost 24-point-23 points, or one-point-11 percent, ending the day at two-thousand-151-point-31.

The tech-heavy KOSDAQ also lost 22-point-five points, or three-point-39 percent, to close at 640-point-94.

On the foreign exchange, the local currency weakened four-point-four won against the dollar, ending the session at one-thousand-170-point-eight won.

Meanwhile, international oil prices surged following word of the attacks in the Middle East. At one point earlier in the day, the benchmark Brent crude jumped five-point-one percent to 71 dollars and 75 cents per barrel while U.S. West Texas Intermediate crude futures spiked four-point-seven percent to over 65 dollars a barrel.