Taiwan's stock market gave up a big morning gain and closed lower again, a bad sign for investors after two days of heavy losses.

• Shares jumped more than 350 points early on, then reversed and finished down about 0.7%, closing under the 46,000 level.
• Losses over two days now top 1,000 points, with swings of more than 600 points in a single session.
• Selling hit electronics parts makers hardest — chip substrate, circuit board and memory stocks were dumped, with several falling sharply.
• Big names held up better: TSMC edged higher and MediaTek rose, but smaller tech stocks dragged the broader market down much harder.
• Washington is drawing up new tariffs on chips, with companies that make them in the US getting an exemption — a fresh worry for Taiwan's chip industry.

Outlook: Traders are watching whether the market can climb back above 46,000 and whether foreign selling and bets against the index start to ease.