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Swiss Market Snaps 4-day Winning Streak, Settles Slightly Lower

The Switzerland stock market ended marginally lower on Monday, snapping a four-session winning streak, amid renewed worries about global growth after China's economy great at the slowest pace in about three decades in 2018.

Most of the markets across Europe ended weak after traders largely stayed wary of building up positions due to a lack of positive triggers.

Uncertainty about a U.S.-China trade deal before the expiry of the 90-day truce weighed as well. According to reports, U.S. President Donald Trump denied over the weekend that the U.S. was considering lifting tariffs on Chinese imports and termed these as "false reports."

Earlier last week, there was a report from Wall Street Journal that U.S. officials were debating lifting tariffs on Chinese imports to give Beijing a reason to make deeper concessions in ongoing trade talks.

Switzerland's benchmark SMI ended down 12.55 points, or 0.14%, at 9,011.41. On Friday, the index ended up 109.82 points, or 1.23%, at 9,023.96.

LafargeHolcim declined by about 1.6%. Novartis and CS Group ended lower by 0.5% and 0.4%, respectively.

Geberit moved up nearly 2%. Swiss RE, Sika and Compagnie Financiere Richemont posted modest gains.

The International Monetary Fund has warned that the world economy is slowing and says that it will get worst if countries keep squabbling over trade.

The agency has lowered its estimates for growth in 2019 by 0.2 percentage points to 3.5%, its second downward revision, this time on account of weakness in Germany and Turkey. But the new report made clear that the biggest known risks to growth are the unresolved trade war between the United States and China, and the possibility of Britain exiting the European Union without a deal.

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