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Tina Tuor
The market says that the hope that with the start of vaccinations a little more normality could return to life has been severely clouded.
The mutation of the virus also raised questions about the effectiveness of the vaccines that are currently being launched in many countries. These fears also pushed back the joy of the new $ 900 billion stimulus package, with which the United States wants to revive its economy, he said.
At lunchtime, the Swiss Market Index (SMI) was down 1.8 percent to 10,333 points. The leading index briefly hit a daily low of 10,269.59 points.
In other markets, prices are under even greater pressure. The German Dax falls 3.5 percent and the FSTE 100 index loses about three percent in London.
The fact that the nervousness of market participants has increased dramatically is also shown in the SMI volatility index, the barometer of fear of the stock market, which shoots up around a fifth.
What is in demand, on the other hand, are Confederate bonds, which are considered a safe haven, or German federal bonds. The dollar, the most important reserve currency, can also recover significantly from the losses of recent weeks against the euro and the franc.
As usual, when crisis concerns prevail, the biggest losses come from stocks in banks CS and UBS and from stocks in cyclical companies like AMS, LafargeHolcim and Richemont. Swiss Re and Swiss Life insurance companies also have to give up. In contrast, the newspapers of crown speculators Logitech or Zur Rose are satisfied with the increasing demand and higher prices.
