Taiwan Semiconductor leads the decline in Taiwan's stock market, with the weighted index hitting its worst performance in 57 years

Amid concerns about a further slowdown in the US economy triggering selling pressure in the market, the tech-heavy Taiwan benchmark stock index saw its largest drop on record. The Taiwan Weighted Index closed down 8.4% on Monday, marking the most severe decline since 1967. Taiwan Semiconductor Manufacturing Company (TSMC) led the market lower, with its stock price falling by 9.8%. The decline highlights a shift in market sentiment from the prospects of AI to concerns about the risk of a US economic recession, as well as disappointing profit outlooks for companies like Intel. TSMC accounts for over 30% of the Taiwan Weighted Index