Swiss stock market down again after the previous day’s upswing
Published: Thursday, Aug 8th 2024, 10:30
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The Swiss stock market fell again on Thursday after the previous day's strong performance. The data from the USA is negative, especially for tech stocks on the Nasdaq. In this country, too, investors seem to have lost the courage of the previous day.
In any case, the SMI benchmark index was trading 1.5 percent lower at 11,670 points shortly before 10 am.
Of the 800 points lost by the Swiss leading index in the first few trading days of August, it was able to make up more than 300 points the previous day with a gain of 2.9 percent. Although the excitement on the financial markets seems to be subsiding somewhat, the situation remains deceptive, according to one market participant.
The rollercoaster ride on the stock markets these days is probably due more to the unwinding of some currency transactions than to the bursting of a bubble or the harbingers of a recession, according to various stock market analysts. However, the risk of recession in the USA has by no means been averted, as evidenced by the record-high movements in the volatility indices at the beginning of the week.
In Germany, this sentiment barometer, which indicates investors' tendency to panic, has at least calmed down somewhat recently. The VSMI, which was still hovering between 12 and 13 points at the end of July, has now fallen to well below 20 after jumping to over 25 points on Monday.
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