Taiwan's stock market had its worst day in months, which is bad news for investors but Micron employees in Taiwan are getting a huge payday regardless.

• Taiwan's benchmark index crashed over 2.49% today, falling more than 1,600 points at one point before closing around 45,211 — breaking below a key technical support level.
• Foreign investors dumped a massive amount of Taiwanese stock in a single day, one of the biggest sell-offs on record, driving much of the drop.
• The government's "national stabilization fund" isn't stepping in yet — officials say market ups and downs are normal and they'll only act if something seriously breaks in the economy or geopolitics.
• Chip giant MediaTek reported strong earnings and said its new AI chip business is ramping fast, while rival chipmaker UMC's stock fell sharply even after good results, on worries about future profit margins.
• Separately, North Korean hackers reportedly stole billions in crypto from the Binance exchange, though Binance says it has recovered much of it and will cover all losses.

Outlook: Unless a major economic shock emerges, authorities are likely to let the market find its own footing rather than intervene, though continued foreign selling could keep pressure on stocks in the near term.