Taipei, June 8 -- Taiex (Taiwan Stock Exchange Capitalization Weighted Stock Index) dropped more than 2,600 points, with TSMC suffering record intraday drop, according to a news report by Focus Taiwan.

Taiwanese shares plummeted during early trading on Monday as a severe sell-off on Wall Street triggered a massive wave of selling in Taipei. The benchmark Taiex instantly breached its 20-day moving average, tumbling to around 42,389 points shortly after the opening bell. The sharp market contraction followed mounting global concerns that prolonged high interest rates could stall the recent artificial intelligence-driven market rally.

Taiwan Semiconductor Manufacturing Co. (TSMC), which holds the heaviest weight on the local exchange, led ...