Trump's Taiwan comment sparks semiconductor selloff; SMH falls 10%.
Sectors & Industries
July 22, 2024
Shaking the crowded trades further was Trump's comment that Taiwan should pay the U.S. to defend it against a Chinese invasion.
Despite the fact that Taiwan spends billions annually on US-made military equipment and ammo, Trump's remarks poured gasoline on the selloff in semiconductor stocks - many of which are assembled in Taiwan. The Semiconductor ETF (SMH) fell -10 percent last week.
The selloff was a vivid reminder of the episodic market volatility experienced during Trump's presidency.
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