Home Business The Swiss market has plummeted

The Swiss market has plummeted


On Monday, Swiss stocks fell as concerns about rising inflation and higher interest rates raised concerns about the rise, forcing investors to drop off the shelves.

Concerns about the impact of severe restrictions on the blockade in Shanghai, China, and disappointing data from China, which show a significant slowdown in the country’s exports in April, further damaged sentiment.

Markets in Asia and Europe fell, and the U.S. market also fell sharply.

The SMI index ended with a loss of 286.24 points or 2.44% to 11,444.18, the lowest for the day.

Logitech, Holcim, Sika, Credit Suisse and Lonza Group lost 5.4 to 6.2%. Alcon, Givaudan and Richemont ended lower by 4 to 4.6%.

Geberit, UBS Group, Swiss Life Holding, ABB, Nestle, Zurich Insurance Group and Partners Group also ended sharply lower. Novartis lost 1.52%. Roche Holding ended smoothly.

On average, the Bachem Holding price index fell 8.8%. Sonova lost 7.7%. Straumann Holding, Dufry, Temenos Group, Tecan Group, VAT Group, AMS, BB Biotech, Adecco and PSP Swiss Property fell 5-6.6%.

Most of markets across Europe ended abruptly below. The pan-European Stoxx 600 fell 2.9%. The British FTSE 100 fell 2.32%, the German DAX fell 2.15%, the French CAC 40 fell 2.75%, while the Swiss SMI fell 2.44%.

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