Swiss stock market continues to slide
Published: Monday, Aug 5th 2024, 09:50
Retour au fil d'actualité
On the international financial markets and also on the Swiss market, the correction of the past few days is continuing at an unabated pace. The SMI benchmark index lost 3.21 percent to 11,494.76 points at around 09:15. The last time the leading index traded this low was at the beginning of May.
The leading index thus fell by more than 3% for the second trading day in a row. As recently as Friday, it left the market with a loss of 3.6 percent - its biggest daily loss since January 2022.
Industrial and technology stocks again suffered the biggest losses. Holcim, Sika and VAT fell by up to 4.7 percent. Financial stocks are also on the decline. Partners Group, UBS and Julius Baer fall by up to 5.3 percent.
Concerns about the US economy
The rapid deterioration in US economic data triggered the downturn on stock markets worldwide. From the second half of the week onwards, they have conjured up fears of recession in the USA, which have led to a broad-based sell-off on the stock markets.
The fact that US Fed Chairman Jerome Powell signaled an interest rate turnaround for September last Wednesday is of little help. Cautionary voices are wondering whether the US central bank might not have waited too long to cut interest rates.
©Keystone/SDA
French 
English 
German 
Spanish 
Arabic