Taiwan's market took a heavy hit as a global tech selloff spread across Asia, bad news for chip investors and anyone holding semiconductor shares.

• The Taiwan index fell 589 points to close under 45,000, at one point down almost 1,000 points, with TSMC dropping 30 NT dollars.
• US markets led the fall the night before, with the Nasdaq down 1.3% and the chip index sinking 5% on losses in memory makers like Micron and SanDisk.
• The trigger was a big selloff in US government bonds, pushing 30-year yields to a 19-year high, plus worry that high oil prices will keep inflation going.
• Trump said there are no talks with Iran and the sea blockade stays in place, killing hopes of a quick end to the Middle East conflict and keeping oil near $85.
• The pain spread across Asia: Japan's market fell over 2,000 points intraday, and Korea halted program trading within minutes of the open as Samsung and SK Hynix tumbled.

Outlook: Investors are watching Fed meeting minutes and retailer earnings this week, with Nvidia's report next week the real test of whether the AI chip rally can recover.