Trump's trade conflict escalates Swiss shares hit hard by tariff concerns
Donald Trump's tariff policy is also having a strong impact on the Swiss stock market. Traders cited "a stiff breeze from across the Atlantic" as a negative factor.
27.03.2025, 20:10
27.03.2025, 20:15
SDA
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- Donald Trump's tariff policy has weighed on the stock markets.
- The Swiss stock market fell on Thursday.
- The previous evening, the US president had announced tariffs of 25 percent on car imports.
The Swiss stock market fell on Thursday. It was once again Donald Trump's tariff policy that weighed on stock markets - around the globe. The previous evening, the US president had announced tariffs of 25 percent on car imports, escalating the trade conflict between the US and the European Union.
This further fueled economic and inflation concerns. In the US, concerns about an economic slowdown have been growing for some time due to the tariff policy, and various leading indicators have recently weakened. In Germany, various dividend cuts, particularly at heavyweight Roche, also had a negative impact.
The leading SMI index closed 0.67 percent lower at 12,867 points. The Dax in Frankfurt and the CAC in Paris fell by a similar amount.
UBS shares came under heavy pressure, falling by 4.1 percent. Traders cited the threat of tighter banking regulation and "a stiff breeze from across the Atlantic" as negative factors. Bank of America lowered its rating to "Underperform" from "Neutral" and Goldman Sachs cut its price target significantly.
Roche GS also closed significantly weaker, losing 2.8 percent or 8.60 francs. However, they were trading ex-dividend at 9.70 francs per share - so the drop was purely optical. UBS and Roche were almost single-handedly responsible for the losses in the SMI.
General weakness in European construction stocks
Traders also pointed to a general weakness in European construction stocks. Sika fell by 2.9 percent and Schindler by 4.3 percent - additionally burdened by the dividend payment. And Holcim closed 3.1 percent lower on the day before a capital market day.
The group of winners included Alcon, which gained a substantial 5.2 percent. The ophthalmology specialist presented ambitious new targets at an investor day. At the same time, reports that competitor Bausch & Lomb had to recall intraocular lenses due to damage provided support. "Less competition for Alcon," said one analyst.
Novartis (+1.0%) and Nestlé (+0.7%), which are sought after as defensive hedges, also closed firmer.
