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Asian stock markets face pressure from chips, while Wall Street and Europe remain cautious and steady

Asian stock markets face pressure from chips, while Wall Street and Europe remain cautious and steady

Asian stocks declined sharply, led by the Japanese market, with the Nikkei index falling by 2.8% after reaching larger losses of 3.3% during the session, due to pressure from declines in semiconductor stocks and global geopolitical disruptions. This occurred despite record-breaking results from Taiwan's TSMC, which announced a 77% increase in profits and projected revenue growth of over 40%. Meanwhile, the U.S. and European markets remained relatively stable, supported by weaker-than-expected inflation data and strong bank earnings, despite ongoing tensions in the Middle East and rising energy prices that are impacting financial growth forecasts and interest rate hikes.

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