Swiss stock market continues downward trend
Even on Friday, prices on the Swiss stock exchange only knew one direction: downwards. The Swiss Market Index could even soon fall below the 10,000 point mark.
The main reason for the significant price declines is the threat of further escalation of the conflict in the Middle East and the associated uncertainty for the global economy. Not only the Swiss stock market is affected by the decline, but also all major financial centres worldwide.
Over the course of this week alone, the SMI fell from almost 11,000 points to 10,355 points on the Friday after trading began. This corresponds to a decrease of around 5%. The leading index of the Swiss stock exchange, which represents the value of the twenty largest and most important companies, has reached a new low for the year. After a few minutes of trading, the prices recovered somewhat – at 9:45 am the SMI was trading at just under 10,450 points.
The German leading index Dax is also in a downward trend. On Friday it fell below the 15,000 point mark at the start of trading, marking its lowest level in almost seven months.
There were also price losses overseas this week: yesterday Thursday alone, the most important stock indices each lost around one percent. The leading index Dow Jones Industrial fell by 0.75% to 33,414 points. The Nasdaq 100 index, which is predominantly made up of technology stocks, also lost 0.85% to 14,783 points.
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