What did the Jack Smith testimony actually say?

The transcript indicates Jack Smith told Congress the Capitol riot “does not happen” without Trump and that Trump exploited the events. He also denied political influence on his investigations and noted no clear historical analog surrounding the 2020 election interference. These points frame legal and policy debate in 2026.

Why does this matter to Swiss investors?

U.S. political risk can affect regulation, litigation timelines, sector sentiment, and currency flows. Swiss firms with high U.S. revenue may see valuation swings. The Jack Smith testimony can also move USD/CHF and hedging costs as investors reprice governance stability and watch the House Judiciary deposition developments.

Which sectors are most sensitive to these headlines?

Technology, media, and online platforms face sensitivity if regulation or enforcement talk increases. Payments, data services, and security vendors are also exposed. The Jack Smith testimony can influence policy direction, which in turn affects multiples, compliance costs, and demand for services tied to U.S. markets.

How should I adjust hedges after this news?

Start with a calendar of expected hearings and filings. Add short-dated USD/CHF hedges around those events, and test worst-case liquidity needs. The Jack Smith testimony raises event risk, so update triggers for rebalancing and ensure counterparty capacity covers stress scenarios through the 2026 policy cycle.

Law and Government

January 2: Jack Smith Tells Congress Trump ‘Caused’ Jan. 6 Riot

ByHuzaifa Zahoor January 2, 2026January 2, 2026

Jack Smith testimony is back in the headlines for Swiss investors. Newly released congressional transcripts state the Capitol riot “does not happen” without Donald Trump, and that he exploited the chaos while denying political influence. The transcripts, released on 31 December 2025, intensify debate over the Trump Jan 6 case and 2020 election interference. For Switzerland, U.S. political risk can shift regulation, currency flows, and sector sentiment. We explain what to watch and how to position as the House Judiciary deposition reverberates in 2026.