TAIPEI (Taiwan News) — Share prices for Taiwan Semiconductor Manufacturing Corporation (TSMC) dove well below NT$600 (US$21.32) during Monday morning’s (March 7) trading session.

By 10 a.m., the price had stabilized at around NT$578 per share, a five-month low for the company. The drop comes amid a broader downturn in morning trading on Taiwan’s stock market, which fell 154.95 points at the start of trading, per a CNA report.

The chipmaker's shares had slipped below NT$600 in recent days amid a sustained sell-off spurred by investors’ concerns about geopolitical risks related to the ongoing war in Ukraine, according to CNA. TSMC's share price fell from NT$645 on Feb. 17 to NT$595 on March 4, shaving NT$50 off the total price, or NT$1.29 trillion in total market value, over roughly two weeks of trading.

The downturn comes off the back of a sustained bull run by TSMC. In September last year, its market price reached a six-month high of NT$626, prompting investors in the U.S. to readjust its projected price to over NT$1,000.