Swiss SMI sinks over 5% dragged down by pharma - Breaking The News
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Swiss SMI sinks over 5% dragged down by pharma

Markets
Christian Baha / DJ

1 min read

EPA/ALESSANDRO DELLA BELLA

The Swiss Market Index (SMI) plummeted over 5% on Wednesday as the trade war unleashed by the United States intensified. US President Donald Trump said his administration will adopt a "major tariff" on pharmaceuticals, causing a selloff amid Swiss pharma companies.

The SMI plunged 5.55% at 1:43 pm CET, while Novartis AG lost 6.97% at 1:26 pm CET and Roche Holding AG dropped 6.08%.

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