The United States resumed airstrikes on Iran and signaled targeted tariffs on foreign-made semiconductors, driving international oil prices and global equity markets sharply lower. South Korea’s KOSPI rebounded after four consecutive declines but remained range-bound. Analysts said President Donald Trump’s hardline posture is primarily shaped by the November 3 midterm elections, limiting the likelihood of a prolonged Middle East conflict while creating short-term pressure for investors. They also highlighted structural risks from China’s expanding memory-chip industry and U.S. tariff policy, alongside potential support from semiconductor buybacks and South Korea’s role as an alternative supplier to China. Investors are being urged to focus on medium- and long-term industry shifts rather than short-term volatility.