The Swiss Stock Market Dropped On Trade Concerns

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(RTTNews.com) - The Swiss stock market traded to the downside throughout Monday's session and ended the day with a substantial loss. Investor sentiment continued to be negatively impacted by concerns over a trade war between the U.S. and China.

German Chancellor Angela Merkel's leadership is also under threat over migrant issues, prompting concerns the collapse of a fragile coalition could lead to a Europe-wide break up.

The Swiss Market Index decreased by 1.42 percent Monday and finished at 8,519.57. The Swiss Leader Index dropped 1.25 percent and the Swiss Performance Index lost 1.36 percent.

Index heavyweight Novartis fell 2.5 percent after announcing 14-month results from the pivotal JULIET clinical trial. Roche also weakened by 0.9 percent and Nestle lost 1.5 percent.

Among the bank stocks, UBS dropped 1.9 percent, Julius Baer surrendered 1.7 percent and Credit Suisse fell 1.5 percent.

Swiss Re declined 1.1 percent, Swiss Life decreased 0.8 percent and Zurich Insurance slid 0.5 percent.

Richemont dropped 1.2 percent and rival Swatch Group forfeited 0.5 percent.

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This article appears in: US Markets , Stocks
Referenced Symbols: CS ,

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