Why Taiwan Semiconductor Manufacturing Company Shares Are Falling

Taiwan Semiconductor Mfg. Co. Ltd. TSM shares are trading lower by 5.93% to $63.48 Tuesday morning following the recent US restriction on China's access to US semiconductor technology, which has weighed on the sector.

What Happened?

Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls restricted the sale of semiconductors made with U.S. technology unless vendors obtain an export license.

The controls also barred U.S. citizens or entities from working with Chinese chipmakers without explicit approval and limited the export of manufacturing tools that would allow China to develop...Read More

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According to data from Benzinga Pro, Taiwan Semiconductor Manufacturing Company has a 52-week high of $145.00 and a 52-week low of $63.26.