"The U.S. employment data from Friday were a clear disappointment"
- Benno Galliker, a trader at Luzerner Kantonalbank AG
Swiss stocks plummeted on Tuesday.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, retreated 1.66%, or 102.06 points, to 6,061.43. The broader Swiss Performance Index lost 1.66%, or 94.26 points, to 5,576.06.
"The U.S. employment data from Friday were a clear disappointment," said Benno Galliker, a trader at Luzerner Kantonalbank AG in Lucerne, Switzerland.
"The market is already waiting for U.S. companies' quarterly results this week. Better-than-expected numbers could reassure the markets again. But if they disappoint, the correction is probably going to continue. So until then, investors may tend to hold back."
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