Trump Strikes Again at Powell, Taiwan Stocks Plunge Over 270 Points
According to financial reports, President Trump’s renewed criticism of Federal Reserve Chair Powell has heightened concerns about the Fed’s independence, leading to a significant drop in the US stock market and triggering a plunge in Taiwan stocks on Tuesday. The index fell more than 270 points at one point, while TSMC’s stock price dropped by 15 TWD.
Trump claimed that the economy is doing well and energy prices have reached their lowest in years, but the stock market responded with selling. At the opening, Taiwanese stocks fell below 19,000 points, hitting a low of 18,833 points, with trading volume shrinking to just over 200 billion TWD.
The performance of blue-chip stocks fell short of expectations, with only a few CPO-related stocks rising, while financial and traditional industry stocks were hit hard.
