South Korea's main stock market tumbled to its lowest point this year so far on Monday amid concerns that high U.S. inflation will trigger more monetary tightening in the U.S. and elsewhere as well as boost the risk of global recession. 

The benchmark Korea Composite Stock Price Index(KOSPI) dived 91-point-36 points, or three-point-52 percent, on Monday, closing the day at two-thousand-504-point-51. The previous lowest point on the local bourse this year was touched on May 12 at two-thousand-546-points-80 points. 

The shedding came after the U.S. main stock index, Dow Jones Industrial Average, plummeted two-point-73 percent on Friday on the news that the U.S. consumer price index jumped eight-point-six percent in May, posting the highest on-year increase in over 40 years. 

Local analysts view there could be a further decline on KOSPI following the forthcoming Federal Open Market Committee(FOMC) meeting this week, where the U.S. Federal Reserve will likely announce a 50 basis point interest rate hike. 

The tech-heavy KOSDAQ also fell, losing 41-point-09 points, or four-point-72 percent, to close at 828-point-77.

On the foreign exchange, the local currency weakened 15-point-one won against the dollar, ending the day at one-thousand-284 won.