The South Korean won dropped to a more than two-year low against the U.S. dollar on Tuesday, while exchange traded funds linked to South Korean stocks fell after President Yoon Suk Yeol declared martial law in an unannounced late-night address live on YTN television.

South Korean markets recover after President Yoon Suk Yeol's martial law declaration is reversed by unanimous parliamentary vote. ETFs and currency rebound.

U.S.-listed shares of South Korean stocks and ETFs tracking the country’s equities market trimmed declines Tuesday afternoon after the country’s president lifted a martial-law order.