The TAIEX, Taiwan's benchmark stock index, slumped 1,397 points, or 3.74%, to 40,206 in Wednesday morning deals, down for the fourth consecutive session and marking its lowest level since May 20, as a global selloff in chipmakers continued to weigh on technology heavyweights. Electronic technology stocks plunged 4.2%, after slumping 5.3% in the previous session, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, falling 2.4% following a 3.0% drop a day earlier. Meanwhile, Delta Electronics and MediaTek plunged 7.6% and 7.5%, respectively. Among the major memory chip suppliers, Nanya Technology Corp. and Winbond Electronics Corp. plunged 9.9% and 9.7%, respectively. However, traders awaited the Fed's interest rate decision later today amid rising oil prices due to the escalating conflict in the Middle East.