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"The markets' hopes for a possible new quantitative easing have been belied"
- John Plassard, director at Louis Capital Markets in Geneva
Swiss stocks closed lower on Wednesday after the Federal Reserve offered no additional stimulus to spur economic growth.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.71%, or 40.63 points, to 5,719.09. The broader Swiss Performance Index shed 0.96%, or 50.08 points, to 5,151.77.
"The markets' hopes for a possible new quantitative easing have been belied," said John Plassard, director at Louis Capital Markets in Geneva.
"Yesterday's Fed meeting was a perfect copy-and-paste from the last meeting, where nothing was really announced. The good news is that the U.S. economy is growing, albeit at a moderate pace."