$Taiwan Semiconductor(TSM.US)After reading so many reasons, it feels like this decline is more about making room for the new Federal Reserve Chairman Kevin Warsh's policy space. First, Trump's approval rating has hit a new low, and people are dissatisfied with his governance over the past year. Initially, he was elected because people were fed up with the faces of American elites. But after a year of Trump's chaotic governance, people's favorability toward American elites has started to rise. To stabilize public sentiment and win the midterm elections, Trump chose to nominate this classic American elite, Kevin Warsh, whose resume is also perfect! He is highly capable and has a very good relationship with Trump.