The Swiss Stock Market Sank On Broad Weakness

(RTTNews) - The Swiss stock market returned to action Thursday following the Christmas holiday. After a positive start, the market declined for most of the day and ended with a significant loss.

Yesterday's historic climb on Wall Street provided an early boost to the market. However, early signs that the U.S. markets were in for a rough start in addition to issues like the U.S. government shutdown, the trade dispute between the U.S. and China and rising concerns about the outlook for global economic growth dragged stocks lower.

The Swiss Market Index decreased by 2.63 percent Thursday and finished at 8,195.64. The Swiss Leader Index dropped 2.29 percent and the Swiss Performance Index lost 2.4 percent.

The index heavyweights all finished with heavy losses. Nestle sank 3.8 percent, Roche declined 3.2 percent and Novartis lost 2 percent.

Julius Baer tumbled 3.9 percent, Credit Suisse decreased 2.5 percent and UBS fell 2.2 percent.

Swisscom ended the day with a loss of 3.3 percent and Lonza forfeited 3.6 percent.

Swatch Group weakened by 2.4 percent and rival Richemont lost 1.9 percent.