Taiwan Stocks Tumble in Wake of US Midterms

Taiwan's stock market suffered a historic selloff on Friday, with the benchmark Taiex plunging more than 3,700 points at the opening bell, marking its biggest single-day drop on record. Although the index recovered some losses during the session, it still closed down 4.5%, below the 40,000-point mark. The sharp decline came amid market concerns following the US midterm elections, which have brought lawmakers into office who want to slow the expansion of AI data centers, raising questions about future demand for Taiwan-based suppliers.