TSMC shares fall more than 3% after it flags full-year sales drop

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TAIPEI (Reuters) – Shares of Taiwanese chipmaker TSMC slumped more than 3% on Friday after the world’s largest contract chipmaker flagged a 10% drop in 2023 sales and said production due to start next year at its first plant in Arizona would be delayed.

Taiwan Semiconductor Manufacturing Co Ltd’s shares underperformed a 1.65% fall in the broader index.