Taiwan's market opened sharply lower after another down day on Wall Street, bad news for investors as oil and interest rates climb together.

• Taiwan's index dropped more than 400 points at the open and lost the 47,000 mark, with TSMC, Hon Hai, Delta and MediaTek all falling.
• The Dow, S&P 500 and Nasdaq fell for a third straight day, though the S&P is still up around 12% this year.
• Oil jumped past $101 a barrel on the US-Iran conflict, the highest since May, stoking fears that energy costs will push inflation back up.
• Government bond yields hit their highest level since late 2023 after the Treasury's bond buyback came in smaller than traders hoped, raising bets the Fed could hike rates.
• Apple unveiled its first folding phone, the iPhone Duo, plus new iPhone 18 Pro models and Apple Watch — the first launch run by new CEO John Ternus — but the stock still slipped.

Outlook: Traders are watching this week's US producer and consumer price data, and Taiwan's market faces a fight to hold 47,000.