India, July 24 -- Korea Stock Market (KRX) Today (July 24): South Korea's stock market suffered one of its steepest declines in recent weeks on July 24, with heavy selling in semiconductor and technology stocks dragging benchmark indices sharply lower.

The KOSPI tumbled 5.42%, while the tech-focused KOSDAQ lost nearly 5% after investors reacted to escalating geopolitical tensions in the Middle East, soaring crude oil prices and weak overnight cues from Wall Street.

The selloff intensified as foreign and institutional investors offloaded major chipmakers, prompting the Korea Exchange (KRX) to activate a sell-side sidecar to temporarily halt program selling and reduce market volatility.

Samsung Electronics, SK hynix and Hyundai Motor wer...