TSMC leads chipmaker plunge as market react to global tech sell-off after typhoon break

📆 7/26/2024 5:24 AM
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TSMC News

Taiwan,Typhoon Gaemi,Wall Street

TAIPEI, July 26 — Taiwanese giant TSMC tumbled with several other leading chip makers today as traders returned from a typhoon-imposed two-day break to play catch-up with a...

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Equities across the world tumbled after disappointing earnings from “Magnificent Seven” titans Alphabet and Tesla fuelled worries about the tech sector, which has driven a surge in markets and pushed all three main indexes on Wall Street to multiple record highs. Taiwan Semiconductor Manufacturing Company controls more than half the world’s output of silicon wafers — considered the lifeblood of the global economy — that are used to power anything from smartphones and cars to missile launch pads and stock markets.

With Typhoon Gaemi triggering massive storms Wednesday and Thursday on Wednesday and Thursday, Taiwan’s stock market was closed.

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