TSMC (TSM) shares are down sharply on October 10, 2025, falling 5.11% to $284.56 in live trading, following a 4.62% drop in the previous session, as the US revoked export waivers that allowed TSMC and other chipmakers to deploy US-origin technology in China, raising supply chain concerns and regulatory uncertainty[1]. The pressure is compounded by China’s new restrictions on rare earth exports, which are critical for semiconductor manufacturing, further complicating global supply chains[1]. Despite these headwinds, TSMC recently raised its full-year revenue forecast due to strong demand for advanced AI chips from clients like Nvidia and Apple, and its Q3 sales beat expectations[3]. Analysts note that TSMC’s direct exposure to China is limited (the Nanjing plant accounts for only about 3% of production capacity and 2.6% of profits), so the immediate financial impact is contained, but the regulatory environment adds volatility[1]. The broader tech sector is also under pressure, with the NASDAQ down 2.36% and Nvidia falling 2.5%, but TSMC’s decline is notably steeper, indicating company-specific concerns are driving the selloff more than general market sentiment[1].