"Until the upcoming elections in Greece on June 17, uncertainty and hence the strong risk aversion will remain. Politics still set the agenda for the markets"
- Joerg Kraemer, chief economist at Commerzbank AG
Swiss stocks fell, heading for their biggest weekly drop since November, as industrial goods and services companies slumped amid signs of slowing growth in China and as Moody's Investors Service downgraded Spanish lenders.
The Swiss Market Index (SMI) dropped 0.8 percent to 5,824.1 at 3:24 p.m. in Zurich after China's home prices fell in a record number of cities last month and car dealers posted inventory levels that foreshadowed deeper price cuts. The measure has retreated to the lowest level since Dec. 22 after sliding 2.2 percent this week. The broader Swiss Performance Index slipped 0.9 percent today.
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