US stocks mixed as Iran ceasefire falters; TSMC ADR up 1.02%

U.S. stock markets experienced a mixed performance on Wednesday, influenced by escalating tensions between the United States and Iran. President Donald Trump announced that a temporary agreement aimed at ending the war with Iran had concluded, leading to renewed U.S. military airstrikes in response to attacks on commercial vessels in the Strait of Hormuz.

The Dow Jones Industrial Average fell significantly, dropping 576 points. This decline was partly attributed to major tech stocks like Microsoft and Alphabet, which saw losses exceeding 1%. Meta Platforms also experienced a downturn.

However, the Nasdaq Composite and the Philadelphia Semiconductor Index managed to rebound. This resilience was supported by gains in companies such as Nvidia, which surged 3.65%, and Broadcom. The Philadelphia Semiconductor Index rose by 2.23%.

Among the S&P 500 components, nine out of eleven sectors closed lower. The industrial sector led the decline, falling 3.41%, followed by the materials sector, which dropped approximately 2.45%. Despite the broader market's struggles, Taiwan Semiconductor Manufacturing Company's ADR (American Depositary Receipt) saw a notable increase of 1.02%.

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