Let $M \subseteq B(H)$ be a von Neumann algebra. Let $S\subseteq M$ be a bounded subset. Is the multiplication map $$S \times S \to M: (x,y) \mapsto xy$$ $\sigma$-weakly (= weak$^*$) continuous?
Attempt: Assume $x_i \to x$ and $y_i \to y$ in the $\sigma$-weak topology where $(x_i)_i$ and $(y_i)_i$ are bounded nets. We must show that $x_iy_i \to xy$ in the $\sigma$-weak topology. Let $z \in L^1(H)$ be a trace class operator. We need to show that $$|Tr(z(xy-x_iy_i)| \to 0$$
I tried $$|Tr(zxy-x_iy_i)| = |Tr(zxy-zxy_i + zxy_i - zx_i y_i)|$$ $$\le |Tr(z(xy-xy_i)| + |Tr(z(xy_i-x_iy_i))|$$
Now I would like to use something like $$|Tr(zx)| \leq |Tr(z)|\|x\|$$ but I'm not sure that holds.
As written the inequality cannot hold (consider the case $x=z^*$, $\operatorname{Tr}(z)=0$). But, with $|z|$, it is standard (it's Hölder for $1,\infty$, if you think about it).
Let $z=v|z|$ be the Polar Decomposition. Using Cauchy-Schwarz, \begin{align} |\operatorname{Tr}(zx)| &=|\operatorname{Tr}(|z|^{1/2}\,(x|z|^{1/2}v))| \leq\operatorname{Tr}(|z|)^{1/2}\,\operatorname{Tr}(v^*|z|^{1/2}x^*x|z|^{1/2}v)^{1/2}\\[0.3cm] &\leq\operatorname{Tr}(|z|)^{1/2}\,\|x\|\,\operatorname{Tr}(v^*|z|v)^{1/2}\\[0.3cm] &\leq\operatorname{Tr}(|z|)^{1/2}\,\|x\|\,\operatorname{Tr}(|z|^{1/2}v^*v|z|^{1/2})^{1/2}\\[0.3cm] &\leq\operatorname{Tr}(|z|)\,\|x\| \end{align}