Swiss stock market joins global rout

Posted on by Gavino Strebel
The Swiss stock market suffered extremely heavy losses on Monday due to a combination of coronavirus fears and falling oil prices.    Stock markets around the world plunged on Monday and oil prices tumbled by as much as a third after Saudi Arabia launched a price war with Russia, sending investors already scared by the coronavirus outbreak fleeing for the safety of bonds and the Japanese yen. At the end of Monday, the Swiss Market Index (SMI) had fallen by 5.55% to 9,196.6 points compared to the previous day of trading.  Updated stock market ticker:  “The last ten trading sessions rank among the most tumultuous in history,” UBS analysts said in a market commentary.  “The fear of the coronavirus, which is also paralysing the economy in Europe and the USA, is now also affecting companies,” said the St. Gallen Cantonal Bank in a separate statement. The Neue Zürcher Zeitung (NZZ) said Monday had been the biggest fall on the SMI since 1988 – bigger even than the 9/11 crash.  …

10,570 thoughts on “Swiss stock market joins global rout”

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