The Taiwan Stock Exchange’s weighted index, the Taiex, fell 388.06 points, or 1.73%, closing at 22,071.09 on Mar.12.

This decline followed substantial losses in US markets overnight, including a 4% drop in the Nasdaq.

The Taiex opened 1.48% lower and experienced a drop of 689 points during the session.

This was primarily due to heavy selling in the electronics sector.

The electronics index decreased by 2.01%. Taiwan Semiconductor Manufacturing Co. (TSMC) lost 2.71% to finish at NT$971.00 (US$169.71).

TSMC accounted for about 220 points of the Taiex’s decline.

This was influenced by its American depositary receipts falling 3.64% in US trading.

Recent Taiwan Semiconductor Manufacturing Co. developments