Economy

Taiex Drops 2.24% Tracking Global Tech-Led Selloff

Published

By TaiwanPlus

Open in App

Taiwan's benchmark stock index fell sharply on Wednesday, with the Taiex losing 2.24% amid a broader tech-led global selloff. The decline followed a steep drop in the Philadelphia Semiconductor Index, while TSMC shares came under pressure as investors weighed concerns over AI-driven growth and the prospect of higher US interest rates.

Stock Market Plunge

 

REPORTER:  

Taiwan’s benchmark stock index plunged on Wednesday.

 

The Taiex shed gains from early this week, ending down 2.24%.

 

This follows a sharp loss in the Philadelphia Semiconductor Index, which tracks the sector’s 30 largest companies. Market heavyweight TSMC’s shares dropped amid investor worries about the prospects of continued AI momentum and a more hawkish US rate outlook.

 

--- 

 

REPORTER:  

TAIEX, Taiwan’s benchmark stock index, plunges on Wednesday.

 

The market gave back the gains from early this week, ended down 0%.

 

This follows a sharp loss in the Philadelphia Semiconductor Index, which tracks the sector’s 30 largest companies, as market heavyweight TSMC’s shares dropped amid investors’ worries about the prospects of continued AI growth momentum and a more hawkish US rate outlook.