Swiss stock market to plunge after US customs offensive

With US President Donald Trump's customs madness, the stock markets have been on a downward trend for weeks. With his announcement of Wednesday to impose far-reaching tariffs on all trading partners, he triggered a further sell-out of US shares. The S&P 500 broke in by around 5 percent, exacerbating its ongoing correction. [...] The post Buffett: Berkshire share is the safe port in the customs chaos appeared first on financial marketwelt.de.

The leading index SMI loses 1.16 percent to 12'137.06 points at 9.20 a.m.. The biggest losers are the two financial assets UBS (-2.9%) and Julius Bär (-2.5%).

The sector feared the worst with the US customs offensive, but it is not specifically targeted by the White House measures.

The Swiss stock market is expected to open in the red on Thursday, following the announcement of massive tariffs imposed by the United States on its main trading partners. The risk of the trade war suffocating the global economy is significant.

A raven-black trading day is on the horizon for the global financial markets - also for the Swiss stock exchange. US President Donald Trump presented his long-awaited customs plans on Wednesday evening.

The Zurich Stock Exchange, a Swiss stock market, opened on Thursday with losses in response to the announcement of generalized tariffs by the President of the United States, Donald Trump, which will be 31 % to imports from the Swiss economy. The SMI, the main reference of the Zurichese stock exchange, stood at 12,411.86 points at half an hour of quotation, 1.40 % less than at the close of Wednesday. Analysts fear that the powerful Swiss chemical…