TAIPEI (Taiwan News) — Taiwan's stock market opened sharply lower on Monday (Aug. 5), dropping more than 600 points, and hitting a low of 20,154.63 in early trading, a decline of more than 1,400 points.

The TAIEX index opened at 20,982.92. The downturn followed after U.S. stocks closed lower Friday (Aug. 2) after a weak jobs report was released, fueling concerns about a potential recession.

Major Taiwanese tech stocks were hit hard. Taiwan Semiconductor Manufacturing Company (TSMC) fell 6%, Foxconn dropped 9%, MediaTek dipped 9%, and ASX-ASE Technology fell 9%.

Foreign media reported that Nvidia's new AI chip, the Blackwell series, will face delayed deliveries due to design flaws. The news further dampened investor sentiment, dragging down shares of AI concept stocks like Quanta Computer, which fell over 8%, and Wiwynn, which hit the daily limit, down at NT$1,790 (US$54.68).