Swiss stock market plunges after Trump’s tariff offensive

Swiss stock market plunges after Donald Trump's customs offensive Keystone-SDA

The Swiss stock market opened in the red on Thursday, following the announcement of tariffs imposed by the United States on the products of many of its trading partners.

+ Get the most important news from Switzerland in your inbox

Depending on the response by other countries, there is a great risk that a trade war will suffocate the global economy.

+ Trump slaps 31% tariff on Switzerland

At around 9.20am, the SMI was deepening its loss, tumbling 1.69% to 12,375.19 points, after opening down 1.45%. The SLI lost 2.03% to 1987.98 points and the SPI 1.8% to 16,486.43 points.

Of the 30 stocks in the Swiss Leader Index, barely a handful were in the green.

Computer peripherals manufacturer Logitech, fell by 9.9%. The company will be hard hit by the new taxes because of the structure of its business, with production largely in China and a large proportion of sales in the US.

What is your opinion? Join the debate:

Translated from French with DeepL/mga

How we work

We select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate them into English. A journalist then briefly reviews the translation for clarity and accuracy before publication. Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team.

Did you find this explanation helpful? Please fill out the short survey on this page to help us understand your needs.