The Swiss stock market is showing notable weakness in mid-day trading on Wednesday, following the rest of Europe lower amid concerns about the global economy.
Comments from U.S. Federal Reserve Chairman Ben Bernanke prompted some negative sentiment going into the session. More information is expected out of the U.S. this afternoon, with the Fed's so-called Beige Book due to be released late in the day.
Meanwhile, debt concerns continued to weigh on Europe. Moody's warned that the U.K.'s triple-A credit rating could be at risk.
The benchmark SMI is down 0.82 percent to 6,278.88. The SLI is lower by 1.07 percent to 974.66 and the SPI is down 0.88 percent to 5,776.72.
Financial stocks are among the leaders to the downside, adding to declines seen the previous day. UBS is down 2.0 percent and CS is falling by 1.0 percent.
Logitech is down sharply on the session as well, falling by 3.0 percent. The stock suffered in the wake of negative analyst comments. UBS lowered its price target on the stock, citing an expectation for continued weak demand and price pressures in Western Europe.
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