Swiss Market Ends Sharply Lower

(RTTNews) - The Switzerland stock market ended sharply lower on Tuesday, tracking weakness in global markets amid rising bond yields and worries about a slowdown in economic growth after data showed China's industrial profits growth slowed in August.

A sell-off in technology stocks on Wall Street weighed on the tech sector in the Swiss market.

The benchmark SMI ended with a loss of 205.60 points or 1.76% at 11,485.58, about 20 points off the day's low of 11,465.59.

Logitech tumbled 7.25%. Partners Group shed about 7% and Lonza Group declined nearly 4%.

SGS, Sika, Richemont, ABB, Swiss Life Holding and Alcon lost 2 to 3%. Geberit, Swiss Re, Roche Holding, Nestle, Zurich Insurance Group, Credit Suisse and Holcim ended lower by 1 to 1.85%.

Among the stocks in the Swiss Mid Price Index, VAT Group ended more than 8% down. Tecan Group declined by about 5%.

Straumann Holding, AMS, Lindt & Spruengli, Georg Fischer, BB Biotech, Swatch Group, Barry Callebaut, Flughafen Zurich, Kuehne & Nagel and Temenos Group lost 3 to 4.2%. Dufry, the lone gainer in the index, edged up nearly 0.4%.