Swiss stock markets down sharply in line with global slump 22/01/2008 00:00
Fears of a US recession hit Swiss stock markets as shares take a down-turn world-wide.
22 January 2008
ZURICH - The Swiss stock market opened sharply down Tuesday in line with a global slump in shares over fears of a US recession.
The blue-chip SMI lost 4.5% in the first minutes of trading and fell below the psychologically important 7,000-mark to 6,958.63 points.
Among the biggest losers were specialty chemicals maker Clariant AG, which lost almost 9%.
Shares in Swiss Reinsurance Co. dropped 7.2%, a day after the world's biggest re-insurance company saw some 10% wiped off the value of its stock.
The broader SPI index fell 3.8% to 5,961.92 points in early trading.
[Copyright ap 2008]
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| Index | Last | Var.(%) |
|---|---|---|
| BEL 20 | 3010.44 | -1.86 |
| DAX | 6304.41 | -1.43 |
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| MIB 30 | 29416 | -2.08 |
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