Will SMI fall below 10,000 soon?: Swiss stock market continues bearish trend

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Will the SMI drop below 10,000 points soon? Even on Friday, prices on the Swiss stock market knew only one direction: down.

The main reason for the serious decreases in prices is the escalation of conflicts in the Middle East and the resulting uncertainty about the global economy. Not only the Swiss stock exchange, but also all major financial centers around the world were affected by the decline.

5 percent decrease

During this week alone, the SMI fell from almost 11,000 points to 10,355 points on the Friday after trading began. This corresponds to a decrease of around 5 percent. The leading index of the Swiss stock exchange, which represents the value of the twenty largest and most important companies, has reached its lowest level this year. After a few minutes of trading, prices recovered slightly; At 9:45 a.m., SMI was trading just below 10,450 points.

Germany’s leading index Dax is also in a downward trend. It fell below 15,000 points at the start of trading on Friday, hitting its lowest level in almost seven months.

Things are turbulent abroad too

Overseas prices have also fallen this week: yesterday, Thursday alone, each of the most important stock market indices lost around one percent of their value. The leading index Dow Jones Industrial dropped by 0.75 percent to 33,414 points. The Nasdaq 100 index, which consists mainly of technology stocks, decreased by 0.85 percent to 14,783, 13 points. (lui/SDA)

Source :Blick