Swiss market closes lower due to fears of global trade war

From Nasdaq: 2025-02-03 13:55:25

The Switzerland market closed weak on Monday due to rising fears of a global trade war sparked by U.S. tariffs. The Swiss benchmark SMI closed down 0.4% at 12,546.77, with Julius Baer plunging 12.7% and Sandoz down 2.8%. Several other major companies in the region also closed lower. Lonza Group rallied 2.7% and Swatch Group gained over 1%. Novartis and Nestle posted modest gains. The Swiss procure.ch PMI rose slightly to 47.5 in January 2025. Overall, the market was impacted by concerns about escalating trade tensions and potential economic implications.



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