The Taiwan stock market slammed 580 points in the morning, approaching the record of the largest drop of 680 points in May last year! The war between Russia and Ukraine continued, and the four major US stock indexes continued to close in the black. Taiwan stocks fell 155 points at the opening of today (7th), and opened at 17581 points. At one point in the intraday, it slammed 580 points. If it did not rise in late trading, it would be the largest drop since the drop of more than 680 points on May 12, 2021, and surpassed the 572 points drop on February 26, 1990. If it is not pulled up, I am afraid it will set the record for the seventh largest drop in the history of the Taiwan stock market.
In addition, on February 24 this year, the Taiwan stock market also recorded a single-day drop of 461 points. Today, the intraday intraday record has also exceeded the record for the largest drop of the day. There is a bottom-breaking phenomenon. Can it surpass the 572 on February 26, 1990? Points and 612 points on April 7, 1990, the market is closely watching, but everything depends on the final closing result of the broader market weighted index.
Taiwan stocks fell sharply today, mainly because the market was more worried about the intensification of Russia’s aggression against Ukraine. The four major U.S. stock indexes closed in the black on Friday, of which the Dow Jones Industrial Average fell 179.86 points, or 0.53%, to close at 33614.80 points; The index fell 34.62 points, or 0.79%, to close at 4328.87 points; the Nasdaq index, which is dominated by technology stocks, fell 224.50 points, or 1.66%, to close at 13313.44 points; the Philadelphia Semiconductor Index fell 80.839 points, a decrease of 2.42 points %, to close at 3258.922 points.
This morning, Asian stocks opened with weaker US stocks, including Korean stocks and Japanese stocks, which also affected Taiwan stocks to open lower. In particular, due to the decline of the king of TSMC, electronic stocks are weak, and shipping, finance, and steel that originally supported the market have also fallen one after another, adding to make up for the decline.
(Review: Lu Junyi)
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Yahoo Finance correspondent Ye Yiru: 22 years of experience in mainstream financial media, from the bubble of Web 1.0 in 2000 to Web 3.0 of Meta, witnessing the rise and fall of large and small enterprise groups in Taiwan, and going through 5 international financial crises. We think that finance is life and is omnipresent. No matter how difficult the financial knowledge is, we should say it plainly. Whether you are old or young, you should manage your money. If you don’t manage your money, your money will ignore you.
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