TAIPEI (Taiwan News) — Taiwan's stock market continued its low trading and price swings on Tuesday (Sept. 3) as investors grappled with concerns about a slowing US economy.

The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed at its lowest point, dropping 142.89 points to 22,092.21. Trading volume shrank to NT$290 billion (US$9 billion), the thinnest since February, per CNA.

The upcoming US non-farm payroll report and unemployment data, due Friday, are expected to shed light on the health of the US economy and influence stock market trends. Apple's annual iPhone launch event on Sept. 10 could also significantly impact the market, particularly for Taiwanese companies that supply components to the tech giant.

The US Institute for Supply Management (ISM) reported Tuesday that the US manufacturing sector has experienced five consecutive months of contraction. This has raised concerns about an economic slowdown.

The data led to a significant decline in major indices. The NASDAQ Composite Index, commonly known as Nasdaq, suffered the most due to a downturn in the artificial intelligence (AI) and semiconductor industry.

Companies such as Nvidia, Advanced Micro Devices (AMD), Qualcomm, and Taiwan Semiconductor Manufacturing Company (TSMC) experienced substantial drops in share prices.