Summary：**Chip stocks tumble after TSMC earnings, dragging Dow and Nasdaq lower** *Investors were set to pa

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**Chip stocks tumble after TSMC earnings, dragging Dow and Nasdaq lower**
*Investors were set to parse signals on the AI build‑out, consumer spending, geopolitical uncertainty, and more in a packed Thursday session.*

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### Introduction
Wall Street opened Thursday with a cautious tone as market participants braced for a flood of data points—ranging from AI‑related capital expenditures to retail sales figures and lingering U.S.–China tensions. The session’s early momentum quickly shifted when Taiwan Semiconductor Manufacturing Company (TSMC) released its quarterly results, triggering a broad sell‑off in semiconductor shares that pulled the Dow Jones Industrial Average and the Nasdaq Composite lower.

### Key Developments
TSMC reported third‑quarter revenue of $19.8 billion, missing the consensus estimate of $20.4 billion, and trimmed its full‑year guidance amid softer demand for smartphones and PCs. The company also warned that capital spending would be moderated as customers reassess inventory levels. The news sent