Swiss Market Index Takes a Hit

In a dramatic turn of events, the Swiss Market Index (SMI) experienced a sharp decline of 5% this Friday. The drop comes as the global community reels from the latest tariffs imposed by U.S. President Donald Trump, with Switzerland facing a hefty 31% duty on its exports to the United States.

Market Reactions and Currency Fluctuations

By 1:55 pm CET, the SMI had slightly recovered but was still down by 4.71%. Meanwhile, the Swiss franc saw an uptick, strengthening by 0.98% against the dollar to $1.17534 and by 0.99% against the euro to €1.06374 by 2:14 pm CET.

What does this mean for the global economy? Analysts are closely watching the situation, as these developments could signal broader implications for international trade relations.