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"There are practically no investors in the markets at the moment"
- Benno Galliker, a trader at Luzerner Kantonalbank
Swiss stocks extended losses on Tuesday as yields on Spanish government bonds rose to "eye-popping levels" and after U.S. economic growth slowed in the third quarter 2011.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.54%, or 29.60 points, to 5,447.66. The broader Swiss Performance Index decreased 0.53%, or 26.37 points, to 4,939.67.
"There are practically no investors in the markets at the moment," said Benno Galliker, a trader at Luzerner Kantonalbank in Lucerne, Switzerland. "The markets are dominated by speculators, hence the continuing up and down without any clear tendencies."