Swiss stocks were down for a fifth consecutive session on Wednesday, with the benchmark SMI Index dropping to its lowest since January.
Investors were spooked by rising Spanish borrowing costs and the likelihood that Greece will exit the euro after voters rejected austerity plans.
The Swiss Market Index (SMI) was 0.70 percent lower at 5936.13 points. The 30 stocks of the Swiss Leader Index (SLI) fell by 0.85 percent to 898.03 points.
Banks and insurers were hammered, with Credit Suisse plunging 6.4 percent. Swiss Life dropped 4.1 percent.
Swiss cement giant Holcim Ltd. reported near flat profit for the first quarter amid negative weather effects in Europe. Shares were down more than one percent.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.