Korea on red alert; market crashes

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Seoul, Nov 23: Korea is believed to be on high non-war time alert on Tuesday, Nov 23 as North Korea reportedly torched dozens of artillery shells at a South Korean island. Asian markets has been effected by the ruckus as Sensex lost more than 500 points.

Local media reported that the eyewitnesses have reported that 60 to 70 houses were on fire after the shelling.

"We upgraded the military's alert posture on North Korea," stated South's Joint Chiefs of Staff Colonel Lee Bung-woo.

the Korean military confirmed the firing from both sides, without providing any further report.

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