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Trump Criticizes Powell Again, Taiwanese Stock Market Plummets Over 270 Points

Trump Criticizes Powell Again, Taiwanese Stock Market Plummets Over 270 Points

Finance Center Report——Since taking office, U.S. President Donald Trump has caused turmoil in both the U.S. and Taiwanese stock markets. He once again lashed out at Federal Reserve Chair Jerome Powell, claiming his decision-making is too slow, which has raised concerns about the Fed's independence. This led to a drop of over 900 points in the Dow Jones Index, and the Taiwanese stock market responded with a decline, with TSMC's stock dropping by 15 NTD, hitting more than a 270-point low during trading.

According to CNN, major U.S. indices fell by more than 2%, with some even dropping over 3% at one point. Although Trump insists that there are no problems with the American economy, and claims that a trade agreement will eventually be reached, the market reactions indicate a lack of confidence in the economic outlook. On Tuesday, the Taiwanese market opened at 18,990 points but plummeted over 220 points, ultimately reaching a low of 18,833 points, with a trading volume reduced to just over 200 billion NTD.

TSMC's stock price dropped to 820 NTD, and stocks in finance and traditional industries saw widespread declines, while CPO-related stocks like Boreway and Huaxingguang rose against the trend. Chen Yiguang, Chairman of Fubon Investment Consulting, suggested that investors pay attention to the gold market and increase cash holdings to mitigate market volatility.