Tag: Global Markets

The earthquake in Taiwan, the strongest in at least 25 years, has also put pressure on the global supply chain. The island accounts for about 90% of chipmaker TSMC's production, and while most of its factories are located across the river from the epicenter, they are filled with fragile equipment that is critical to producing chips for global companies. TSMC said it had evacuated some of its manufacturing plants and that its security systems were functioning normally, while it confirmed the details of the impact.

Another day, another warning from Tokyo curbed the yen's decline, as the Asian currency inched closer to the 34-year low of 151.975 yen it hit last week, prompting repeated warnings of intervention. Japan's finance minister, Shunichi Suzuki, reiterated his warning of a bear market for the yen on Tuesday as Tokyo tries to prevent the currency's decline from destabilizing. After the initial shock of stronger-than-expected U.S. manufacturing data, which made the market skeptical about the Fed's timing for a rate cut, the market seems to be taking more and more evidence of economic strength in stride.