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Swiss Market Ends Sharply Lower
(RTTNews) - The Switzerland market ended sharply lower on Monday, in line with markets across Europe, as concerns about new tariffs and their impact on global economic growth rendered the mood extremely bearish.
US President Donald Trump said in an interview on Sunday that he will likely impose duties on "essentially all" of the U.S.'s trading partners. The President said that new tariffs to be announced on Wednesday, which he dubbed as "liberation day," will hit "all countries."
The benchmark SMI ended with a loss of 242.31 points or 1.89% at 12,598.12, slightly off the day's low of 12,585.99.
Logitech International tumbled 4.42%. SIG Group, UBS Group, ABB, Partners Group, Richemont, VAT Group, Lonza Group, Adecco and Swatch Group lost 3 to 4%.
Straumann Holding ended nearly 3% down. Sonova, Julius Baer, Sika, Sandoz Group, Roche Holding and Holcim closed lower by 2 to 2.5%.
Schindler, the lone gainer among the SMI constitutents, ended 0.36% up.
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