US EditionTAIEX Plunges Nearly 1,000 Points on Fed, AI Worries
Taiwan's TAIEX index fell 3.61%, the sixth-largest point drop, as investors reacted to strong US jobs data and concerns over high AI and tech stock valuations.
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Taiwan shares plunge almost 1,000 points amid Fed concerns
Taipei, Nov. 21 (CNA) Shares in Taiwan took a hit Friday, falling almost 1,000 points after heavy losses on the U.S. market as the better-than-expected September U.S. jobs data fueled fears that the Federal Reserve will take a hawkish stance on a rate-cut cycle, dealers said.
Taiwan's stock market opened lower and continued to decline on the 21st, falling as much as 1030.38 points during the session before recovering slightly to close at 26434.94 points. This drop fell below the 26470-point quarterly moving average and the lifeline, a decline of 991.42 points, marking the 6th largest closing drop in history. The total turnover of Taiwan's stock market was NT$549.835 billion, with foreign investors selling a net NT$91…
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