Taiwan's stock market opened lower and the losses deepened, a bad sign after the market had just climbed back above the 47,000 mark the day before.

• Taiwan's benchmark index fell over 100 points at the open, dropping back below 47,000, with chip giant TSMC down 5 points to NT$2,420.
• US markets closed higher overnight on continued gains, boosted by AI-related chip makers and Oracle's strong revenue forecast, though Nvidia itself slipped.
• The Fed held interest rates steady, saying it's still focused on price stability while job numbers look solid.
• Oil prices rose on supply worries after Yemen's Houthi rebels attacked a Saudi refinery and reports that the US may expand pressure on Iran, but gains eased after the US tried to restart peace talks with Iran.
• Taiwan's currency has been swinging wildly, briefly hitting its weakest level among Asian currencies, putting pressure on the central bank to defend the exchange rate.

Outlook: Investors are watching Big Tech earnings from Alphabet and Microsoft, along with TSMC's upcoming investor briefing, for the next signal on where chip stocks head next.