Swiss shares fall slightly after US tariff verdict against EU
Keystone-SDA
The stock market started the new week lower on Monday. The reason for this is the US announcement of extra tariffs of 30% on EU goods from August 1. The market had actually hoped for an early defusing of the trade conflict.
The Swiss Market index SMI lost 0.19% to 11,915 points by around 9.40 am. The leading European indices are also lower. The German DAX fell by 0.66% and the French CAC by 0.46%.
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Overall, however, the losses are relatively moderate. The cautious reaction of the EU and familiarity with the negotiating tactics of American President Donald Trump softened the reactions of the financial markets, according to the mood in stock market circles. In Switzerland, meanwhile, the wait for the outcome of US tariff negotiations continues.
The half-year results of Novartis, ABB, Schindler and Richemont are also expected this week. However, global trade policy remains central. “Tariffs remain the number one topic this week,” says an assessment by Helaba Bank.
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What is a tariff? A quick guide
If an agreement is not reached between the EU and the US by August 1, there is a threat of countermeasures. Uncertainty therefore remains high, especially as the tariffs would have a negative impact on the economy and inflation.
Adapted from German by DeepL/ac
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