Seoul - Shares plunged more than 3 per cent Tuesday on the Seoul stock exchange on heavy foreign selling as worries over a credit crunch in the US intensified. 

The benchmark Kospi index fell 49.29 points, or 3.2 per cent, to close at 1,509.33. 

Declining issues outnumbered advancers 702 to 130. 

The main index of the technology-heavy Kosdaq market fell 18.10 points to 523.02. 

On currency markets, the US dollar was quoted at 1,008.20 Korean won, after trading at 1,004.60 won on Monday. (dpa)