Taiex Suffers Record Single-Day Drop Amid AI Valuation Fears
Taiwan's benchmark index, the Taiex, plunged more than 2,900 points on Friday, its steepest single-day drop on record, closing down over 6% amid growing concerns over AI industry valuations. TSMC shares slid more than 7% despite the company reporting record second-quarter earnings a day earlier, with investors also reacting to its plan to invest another US$100 billion in its manufacturing facilities in Arizona.
