New York stock market ends lower across the board… Trump "All Israeli hostages to be released on the 13th–14th" [Morning Briefing]

◆ New York stocks close lower across the board as tech fatigue breeds selling pressure

All three major New York stock indices closed in the red. On the 9th local time, the Dow closed at 46,358.42, down 0.52% from the previous session. The S&P 500 closed at 6,735.11, down 0.28%, and the Nasdaq closed at 23,024.63, down 0.08%. Although all three major indices fell, the S&P 500 and the Nasdaq had hit record highs in early trading before pulling back. Nvidia reached a record high as a path opened for it to export artificial intelligence (AI) chips to the United Arab Emirates (UAE), and Oracle also rebounded more than 3%. However, overall, profit-taking selling dominated as investors appeared fatigued by the recent sharp rise and volatility.

◆ Trump: "All hostages to be released on the 13th or 14th… Next step is disarming Hamas"

U.S. President Donald Trump said on the 9th local time that, regarding Israel and Hamas agreeing on phase 1 of the "Gaza peace plan," all 20 Israeli hostages held by Hamas would be released on the 13th or 14th. At a meeting held at the White House, President Trump said, "Last night we reached a major breakthrough in the Middle East. It was something many people said could never be done." He added, "We ended the war in the Gaza area and, on a larger scale, created peace," and said, "I hope it will be lasting peace, eternal peace." President Trump said, "We secured the release of all remaining hostages," adding, "They will be released on Monday (13th) or Tuesday (14th)." He said, "Bringing them back is a very complex process," and, "I will not say what must be done to bring the hostages. There are places you would not want to go, but we will bring the hostages back on Monday or Tuesday." President Trump also said, "It will be a day of joy," and "I intend to visit personally." This appears to indicate that he intends to go to Egypt, where ceasefire talks between Israel and Hamas are underway, to finalize the agreement and be directly or indirectly involved in the release of the hostages.

◆ Will self-employed be required to join industrial accident insurance… Government pushes 'nationwide industrial accident insurance'

The government plans to make industrial accident insurance mandatory for self-employed people with high occupational risk and to push for a 'nationwide industrial accident insurance system' for all working people. However, because mandatory enrollment would impose insurance premium burdens on enrollees, the government plans to pursue phased implementation through social consensus. According to government ministries on the 10th, the Ministry of Employment and Labor has recently launched a research project on the "application plan for industrial accident insurance for self-employed people with high occupational risk." Industrial accident insurance was introduced in 1964 to replace disaster compensation under the Labor Standards Act. It was conceived as a public fund to prevent situations where employers could not cover compensation costs for work-related injuries, leaving workers without effective compensation. At introduction it applied only to mining and manufacturing with 500 or more regular employees, but the scope has since expanded to cover most wage workers. Nevertheless, blind spots in industrial accident insurance remain. As of last July, the industrial accident insurance enrollment rate for one-person self-employed was only 0.52%, and for self-employed people enrollment is voluntary if they want it. The Ministry of Employment and Labor says that self-employed people also face high occupational risk and therefore have a great need for protection.

◆ "The power of art amid fear"… Hungarian Krasznahorkai László wins Nobel Prize in Literature

Hungarian contemporary literary master László Krasznahorkai (71) was awarded the 2025 Nobel Prize in Literature. The Swedish Academy announced on the 9th local time that it had selected László Krasznahorkai as this year's Nobel Prize in Literature laureate. A Hungarian author winning the Nobel Prize in Literature is the second time since Imre Kertész in 2002. Last year, novelist Han Kang (54) became the first Korean writer to win the prize. Krasznahorkai told Swedish Radio on the day, "First day as a Nobel laureate," adding, "I am very happy and at peace, yet also tense." Krasznahorkai debuted in 1985 with "Satantango" and gained fame with works such as the 1989 piece "The Melancholy of Resistance." The Academy described his representative work "Satantango" as a "literary sensation." The novel was praised for its powerful, suggestive depiction of the impoverished residents of an abandoned collective farm in rural Hungary just before the collapse of communism. In Korea, six of his works—"Satantango," "The Melancholy of Resistance," "Baron Wenckheim's Homecoming," "The World Goes On," "Seowangmo's Advent," and "The Last Wolf"—have been translated and published by Alma Publishing.

◆ Mostly cloudy nationwide with autumn rain in central regions… Seoul daytime high 18°C, 'cool'

On Friday the 10th, rain will fall mainly around the Seoul metropolitan area and Gangwon. From the afternoon, occasional rain is expected in northern Chungcheong, and from nighttime in northern South Chungcheong. Northern Chungcheong may see less than 0.1㎜ of drizzle until morning. Total expected precipitation over the three days from the 10th to the 12th is 20–60㎜ for northern Gyeonggi and northern Gangwon and the five western islands in the Yellow Sea (with the five western islands seeing over 80㎜ in some areas); 10–40㎜ for central and southern inland and mountainous areas of Gangwon; 5–40㎜ for Seoul, Incheon, and southern Gyeonggi; and 5–20㎜ for northern Chungcheong. While most of the country will be mostly cloudy, the Jeonnam and Gyeongnam regions and Jeju Island will be mostly clear, and daytime highs will be 17–27°C, similar to or slightly higher than usual. Seoul and Chuncheon 18°C, Incheon and Suwon 19°C, Gangneung 20°C, Cheongju and Sejong 24°C — central regions will be cool all day. Fine dust levels are expected to be at 'good' levels nationwide due to favorable atmospheric dispersion and the effects of precipitation.

Kim Ye-rang, Hankyung.com reporter yesrang@hankyung.com