"Risky assets are coming down and safe havens are doing even better"
- Philippe Gijsels, a market research analyst at BNP Paribas Fortis Capital Markets
Swiss stocks closed lower on Friday.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, erased 1.24%, or 72.71 points, to 5,777.47. The broader Swiss Performance Index lost 1.28%, or 69.68 points, to 5,386.38.
"The slowdown is global. We are seeing it everywhere from Europe to China and now in the U.S. that had seemed a little bit immune so far," said Philippe Gijsels, a market research analyst at BNP Paribas Fortis Capital Markets in Brussels.
"Risky assets are coming down and safe havens are doing even better."
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