There is a notable sell-off in early trading on the Swiss stock market. Weak signs from overseas helped encourage a decline, which has been spurred by continued worries about the debt crisis in Europe.
A possible debt restructuring continues to be talked about for Greece. Meanwhile, ratings agency Standard & Poor's lowered its outlook on Italy.
General economic concerns are also contributing to the slide. Disappointing data out of Asia and signs of weakness in the U.S. have made traders worry about the global economy.
The benchmark SMI is down more than 1.3 percent to 6,443.62. The index is just off its intraday low of 6,441. The SLI is down 1.7 percent to 1,004.19. The SPI is lower by 1.4 percent at 5,928.
The financial sector is helping to lead the retreat. Swiss Life is down 3.4 percent. Baloise is falling 2.2 percent, while UBS and Credit Suisse are both off 2.0 percent.
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