Swiss stock market shaken by tariff announcement

The Swiss stock market was shaken on Monday morning after Friday’s blow from tariff talks. It remains to be seen how the Swiss government will proceed following the announcement of 39% customs duties. +Get the most important news from Switzerland in your inbox The Swiss Market Index fell as much as 1.9% Monday, although it pared declines to 0.88% as of 10:15 am in Zurich on optimism that the tariffs will ultimately be a tool to drive trade negotiations. The benchmark is now up about 1% for 2025. The Swiss franc fell for a second day against the euro, sliding 0.3%. It had weakened 0.5% on Friday, the biggest drop since May, after Trump’s announcements late last week. According to concordant press reports, the government is to meet on Monday for a virtual crisis session, but no confirmation from the Federal Chancellery or the federal departments was available on Monday morning. + Swiss government plans to keep negotiating with the US on tariffs The State Secretariat for Economic ...