Why Taiwan Semiconductor Manufacturing Company Shares Are Falling

Taiwan Semiconductor Mfg. Co. Ltd. TSM shares are trading lower by 3.47% to $91.28 Monday morning. Shares of several Chinese stocks are trading lower after the US government shot down a balloon originating from China.

What Happened?

Our Benzinga team reported China and Taiwan are responding after the U.S. military shot down a Chinese spy balloon on Saturday off the coast of North Carolina.

President Joe Biden ordered for the three-bus-sized balloon to be shot down “as soon as possible,” which meant holding off on the operation until it was safely over waters.

While intelligence recovery efforts for the balloon are ongoing, on Friday the Pentagon confirmed a second Chinese balloon had been spotted over Latin America. More precisely passing over the Panama Canal and moving southeast over Venezuela...Read More

According to data from Benzinga Pro, TSM has a 52-week high of $128.66 and a 52-week low of $59.43.