The Swiss Stock Market Declined On Persistent Trade Concerns

(RTTNews) - The Swiss stock market got off to a positive start Tuesday, but quickly began to give back its early gains and dropped into negative territory. The market staged a bit of a recovery in late trade, but still finished firmly in the red.

Traders were in a cautious mood due to continued worries over global trade. Recent reports have suggested that U.S. President Trump plans to move ahead with tariffs on $200 billion worth of Chinese imports as early as this week.

The Swiss Market Index decreased by 0.57 percent Tuesday and finished at 8,951.89. The Swiss Leader Index dropped 0.48 percent and the Swiss Performance Index lost 0.65 percent.

The index heavyweights all finished in the red Tuesday. Nestle sank 1.2 percent, Roche fell 0.6 percent and Novartis lost 0.4 percent.

Swatch declined 1.2 percent and rival Richemont slid 0.1 percent.

Adecco was among the weakest performing stocks of the session, falling 1.4 percent. Lafargeholcim also weakened by 1.2 percent and Swiss Life surrendered 1.1 percent.

Credit Suisse advanced 0.6 percent and UBS added 0.10 percent. Meanwhile, Julius Baer decreased by 1.1 percent.