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Swiss Stock Market Extends Losing Streak

The Swiss stock market was unable to hold a positive open on Tuesday, heading south about two hours into the trading day to finish in the red for the fourth straight session.

The market has now given up almost 300 points or 3 percent on its current slide.

The SMI dropped 115.51 points or 1.12 percent to finish at 10,232.93 after trading between 10,221.51 and 10,380.68.

Among the actives, Credit Suisse plummeted 2.89 percent, while UBS Group tumbled 2.75 percent, Julius Bar Gruppe skidded 2.43 percent, Compagnie Financiere Richemont sank 1.92 percent, Swiss Life dropped 1.58 percent, Roche Holding shed 1.12 percent, Zurich Insurance lost 1.11 percent, Novartis lost 1.05 percent, Lafarge Holcim fell 0.97 percent and Sika eased 0.38 percent.

The losses were in line with much of the rest of Europe amid fresh concerns about global trade.

China will soon release its so-called "unreliable entity list," imposing sanctions against those who harm China's interests, the business news arm of the country's nationalist tabloid Global Times said in a tweet early Tuesday morning.

Germany's Dax added 24.61 points or 0.19 percent to 12,989.29, while London's FTSE fell 127.18 points or 1.75 percent to 7,158.76 and the CAC 40 in France lost 59.52 points or 1.03 percent to 5,727.22.

In economic news, Switzerland's consumer prices fell for the second straight month in November, the Federal Statistical Office said on Tuesday. The consumer price index edged down 0.1 percent year-on-year in November, following a 0.3 percent decline in October - in line with expectations.

The EU measure of harmonized index of consumer prices, or HICP, fell 0.3 percent annually in November, the same rate as seen in the preceding month. Economists had expected a 0.1 percent decrease.

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