South Korean stocks continued to fall sharply during trading on Monday. 

The Korea Composite Stock Price Index(KOSPI) traded at one-thousand-461-point-05 as of 9:20 a.m., down by 105-point-10 points, or six-point-71 percent. 

A “sidecar” was activated to suspend trading on the KOSPI for five minutes immediately following the opening of the session after KOSPI 200 index futures remained more than five percent lower from the previous close for at least one minute. 

The index plunged for seven consecutive trading days through last Thursday before bouncing back on Friday after a 60-billion-dollar currency swap deal between Seoul and Washington aimed to relieve a liquidity crunch triggered by the COVID-19 pandemic. 

However, the rebound appears to be short-lived after U.S. stocks crashed last Friday amid slowing moves by the U.S. Congress to reach bipartisan deals on the Trump administration’s two-trillion-dollar stimulus package.