Swiss Stocks Suffer Heavy Losses: SMI Dives Over 5% in Market Rout

Zurich, Switzerland – The Swiss Market Index (SMI), Switzerland’s premier stock index, experienced a severe downturn on Thursday, April 4th, closing sharply lower amid a wave of selling that swept across European markets.

The blue-chip index finished the trading day at 11,648.83, marking a substantial decline of 5.14%. This significant drop represents a loss of 630.65 points within the session.

Data from INDEXSWX, recorded at 10:06:00 PM UTC+2, illustrated a day dominated by sellers. The SMI opened significantly below its previous closing level of 12,279.48 and embarked on a steady downward trajectory throughout the morning. The selling pressure intensified around midday, pushing the index below the 11,800 mark. Afternoon trading saw increased volatility with brief attempts at recovery, but these failed to hold, and the index slid further to finish near its lowest point of the day.

This major sell-off in the SMI, which comprises the 20 largest and most liquid stocks on the SIX Swiss Exchange, highlights significant investor unease impacting major Swiss corporations and reflects the broader negative sentiment prevalent in financial markets.