{"id":21488,"date":"2022-05-09T17:03:59","date_gmt":"2022-05-09T17:03:59","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/05\/09\/swiss-market-ends-sharply-lower-10\/"},"modified":"2022-05-09T17:03:59","modified_gmt":"2022-05-09T17:03:59","slug":"swiss-market-ends-sharply-lower-10","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/05\/09\/swiss-market-ends-sharply-lower-10\/","title":{"rendered":"Swiss Market Ends Sharply Lower"},"content":{"rendered":"
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Swiss stocks tanked on Monday, as worries about rising inflation and higher interest rates raised concerns about growth, prompting investors to exit counters.<\/p>\n

Worries about the impact of severe lockdown restrictions in China’s Shanghai, and disappointing data from China showing a marked slowdown in the country’s export growth in April further dented sentiment.<\/p>\n

Markets across Asia and Europe tumbled, and the U.S. market is down sharply as well.<\/p>\n

The benchmark SMI ended with a loss of 286.24 points or 2.44% at 11,444.18, the day’s low.<\/p>\n

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%.<\/p>\n

Geberit, UBS Group, Swiss Life Holding, ABB, Nestle, Zurich Insurance Group and Partners Group also ended sharply lower. Novartis shed 1.52%. Roche Holding ended flat.<\/p>\n

In the Mid Price Index, Bachem Holding plunged 8.8%. Sonova lost 7.7%. Straumann Holding, Dufry, Temenos Group, Tecan Group, VAT Group, AMS, BB Biotech, Adecco and PSP Swiss Property shed 5 to 6.6%.<\/p>\n

Most of the markets<\/span> across Europe ended sharply lower. The pan European Stoxx 600 plunged 2.9%. The U.K.’s FTSE 100 shed 2.32%, Germany’s DAX ended 2.15% down and France’s CAC 40 tumbled 2.75%, while Switzerland’s SMI dropped 2.44%. <\/p>\n<\/p>\n<\/div>\n