On Tuesday, the Swiss market initially remained flat until about an hour before midday, after which it began to decline, ultimately closing on a notably weak note.
Concerns over inflation and the outlook for interest rates contributed to a cautious market sentiment.
The benchmark SMI concluded the session down by 106.07 points, or 0.89%, at 11,854.50. The index had earlier climbed to 11,986.53 during early trading but then dropped to a low of 11,835.46 as the session progressed.
Shares of Lonza Group fell by 3.4%, while Sika declined by approximately 3%. Other significant decliners included Partners Group, Julius Baer, Alcon, Straumann Holding, Geberit, Roche Holding, Novartis, and Sonova, with losses ranging from 1% to 2%.
Holcim saw a decrease of nearly 1%. Other notable declines were observed in VAT Group, Givaudan, Zurich Insurance Group, Nestle, Sandoz, Swiss Life Holding, and Swiss Re, which fell by 0.6% to 0.9%.
Helvetia plummeted by nearly 5.5%, and Clariant dropped 2.8%. Additionally, Flughafen Zurich, Tecan Group, Ems Chemie Holding, Adecco, and Schindler Holding recorded significant losses.
On a more positive note, Swatch Group advanced by 0.75%, and Lindt Spruengli finished with moderate gains. Kuehne & Nagel and Swisscom saw marginal increases.
Temenos Group rose by approximately 1.4%, while Galenica Santé and PSP Swiss Property posted slight gains.
