Taiwan Stocks Plunge Amid Tech Slowdown

Taiwan's stock exchange dropped by over 4% on Wednesday on the back of fears of a slowdown in the U.S. economy.

Transcript

00:00Taiwan's stock exchange has plunged by 4.5% after a sell-off in the tech sector.

00:06The Thai X had dropped by as much as 5% in early trading and finished at just over 21,000 points

00:13by close of trade on Wednesday. Investor sentiment was hit by poor manufacturing data from the US,

00:20signalling a slowdown in the world's largest economy.

00:23Taiwanese stocks had been riding high on the back of a boom in AI, with companies like TSMC

00:29among the key suppliers for US tech giants. But Nvidia, the world's leader in AI,

00:35saw its shares dip almost 10%, helping fuel the sell-off in Taiwan.