Economy

Taiwan Stocks Plunge on US Tech Sell-Off

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By TaiwanPlus

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Taiwan stocks plunged more than 1,600 points Tuesday as a sell-off in US tech shares triggered a sharp decline in the benchmark Taiex. The index fell about 3.6% to close at 43,308 points. TSMC, which accounts for more than 40% of the benchmark, was among the major sources of downward pressure.

Taiwan Stocks Plunge

REPORTER:  
Taiwan stocks plunged more than 1,600 points Tuesday, dragged down by a sell-off in US tech shares. The benchmark Taiex fell about 3.6% to close at 43,308 points. Shares in TSMC, which makes up over 40% of the Taiex, were down significantly, adding to pressure on the broader market. Analysts say the market remains unsettled as foreign investors continue selling and the Taiwan dollar weakens.