The Swiss stock continued their downward slide at the beginning of the new trading week. The reason is the fear of an escalation of the trade dispute between China and the United States, which prompted many investors to sales was again. The benchmark index, the SMI fell 1.3 percent to 9352 counter. Among the losers, especially Bank stocks and cyclical stocks.
Many investors to be the driving concern that the trade dispute could plunge the economy into recession, say traders. Previously, China had announced to rise from June, in the framework of a revised list of American Goods in the amount of 60 billion dollars in additional customs duties.
The aggravation rested primarily on luxury goods, values such as Swatch and Richemont, which lost around three per cent in value. Similarly, shares of companies with a cyclical business model, such as the cement group Lafarge, Holcim and the electrical engineering group ABB more than two percent.
In addition, investors of the Bank parted titles: Credit-Suisse-securities lost 3.6 percent of its value, those of the rival UBS, a good two percent.
Novartis shares, Novartis slipped 1.7 percent from losing ground
. The pharmaceutical group has rejected allegations of price fixing in the United States. In the United States 44 States have filed a lawsuit against 20 companies. The companies are to be screwed with fixing the prices of more than 1000 percent above and also the competition in generic drugs are suppressing.
The shares of Roche were at a discount of 0.1 percent, significantly better. The third heavyweight Nestle fell 0.3 percent.
Dow Jones embarks on descent
the stock exchanges in the U.S. are started on the basis of the economic and political situation deeper in the trade. Investors fear such as in Switzerland, a further escalation in the trade conflict between the world's two leading economies. The Dow-Jones Index of the default values opened on Monday, 1.7 percent weaker at 25.522 points. The broader S&P 500 lost 1.6% to 2834 counter. The Index of technology exchange Nasdaq fell by 2.2% to 7744 points.
China's Ministry of Finance announced, to demonstrate US Goods to the value of 60 billion dollars with punitive tariffs in response to U.S. duties on Chinese goods by Friday. "Each inch increase is a burden for the global economy, and if it puts a strain on the economy, negatively impacted the company's profits, and therefore the shares markets react," said Art Hogan, chief strategist at National Securities.
Uber continues to lose ground
pressure on companies that do much business abroad. The papers of the aircraft manufacturer Boeing fell 3.3 percent, with the title of construction equipment maker Caterpillar lost 3.5 percent. Also, technology stocks such as Apple, Intel, or Qualcomm came under pressure.
stock market newcomer Uber falls in the favor of the investors. The share of California's transportation service intermediary's lost more than ten percent. Already on the first day of trading last Friday, investors had stepped on the brake – the Uber-shares closed 7.6 percent lower at 41,57 dollars. Were issued the papers to 45 dollars. (fal/Reuters)
Created: 13.05.2019, 17:13 PM