See How Swiss Bank Policy Unleashed a "Tsunami" on These Stocks

A surprise Swiss Bank policy change shocked the stock market today (Friday)... On Thursday, the Swiss Central Bank ended a three-year old policy that prevented the Swiss franc from appreciating too much against the euro. The move sent the Swiss franc soaring 30% against the euro within minutes. It also caught financial firms unprepared... You see, the franc is one of the world's most-traded currencies. While holders of Swiss francs realized gains, financial institutions with large holdings of euros or dollars against the franc were routed - especially smaller firms that cannot bear big losses. And Swiss exporters saw their goods become 30% more expensive to European buyers in a matter of minutes. The post See How Swiss Bank Policy Unleashed a "Tsunami" on These Stocks appeared first on Money Morning - Only the News You Can Profit From .