“It’s a real shock”: the Swiss scholarship stumbles upon opening, weighed down by Trump taxes

The Swiss Stock Exchange received the blow on Monday morning, after the 39% customs duties imposed by the United States on Swiss imports. Therefore, Watchmakers. Meanwhile, luxury values, as well as pharmaceutical titles were particularly jostled by the unexpected level of taxes imposed on Swiss exports.

“It’s a real shock. Similarly, Switzerland, often spared by geopolitical turbulence, is brutally targeted by the new American salvry, “said John Plassard. For example, According to the head of the Cité Management investment strategy. “with a 39 % customs right – one of the highest in the world – it undergoes treatment that even its European partners have avoided”.

For Ipek Ozkardeskaya, Swissquote analyst, “the effect of customs duties will be persistent but uneven. Large tech, finance, services and communication companies are seen as the winners of this chaotic reorganization of world trade. Consumer goods, energy, real estate and health are among the most exposed ”. But “in the end, American consumers will end up paying the bulk of the taxes,” she concluded.

Losses by hundreds of millions – "it's real shock": swiss scholarship

“If Switzerland does “it’s real shock”: swiss scholarship not risk a brutal recession. the shock will weigh on the margins of multinationals, with up to $ 800 million in potential annual losses for Novartis and more than a billion francs accumulated for rock by 2026,” said the director of investments at ODDO BHF Switzerland, Arthur Jurus.

Investors also reacted negatively to “disappointing” employment data in the United States, experts from LBBW commented. The situation has indeed deteriorated in July across the Atlantic, with an unemployment rate increased at 4.2%. Additionally, The job creations were established at 73,000 in July and those in May and June were strongly revised.

Shortly before 9:10 a.m., the SMI star index dropped 1.63% to 11,645.11 points, after closing Thursday with 0.80% withdrawal. The Zurich square remained closed on Friday due to the national holiday of August 1.

Among the other indices, the SLI lost 1.66% at 1935.85 points and “it’s real shock”: swiss scholarship the SPI abandoned 1.44% to 16,288.02 points. Symbol of high volatility on the markets, the VSMI index jumped from 10.2% to 15.56 points.

Food is no exception

Almost all of the star values opened in the red. the highest drops being recorded by Adecco (-3.6%), Partners Group (-3.1%) and Logitech (-2.7%). Luxury titles Swatch (-2.0%) and Richemont (-1.7%), particularly dependent on their exports to the United States, also dropped.

The pharmaceutical values. for the time being exempt from customs duties but under the threat of a drop in prices, were also penalized. Novartis (-1.4%), Roche (-2.0%) and Lonza (-2.1%) did not escape the negative trend. The Nestlé (-0.3%) and Lindt & Sprüngli (-2.3%) food values suffered various spells.

Among the news not linked to international trade, UBS (-2.5%) agreed to pay a slate of 300 million dollars in the United States Department of Justice (DoJ) to end. “it’s real shock”: swiss scholarship a residual case of Credit Suisse in the file of financial products backed by mortgage (subprime) credits.

Sig Group (-1.2%) announced the departure of its managing director Samuel Sigrist with immediate effect. Ann-Kristin Erkens resumes his acting functions.