SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Black day on the world's stock exchanges

The global stock market anxiety is rising. During the night, the Tokyo stock exchange has had its worst fall since "Black Monday" 1987. It is completely clear a large and remarkable downturn, says SEB's private economist Américo Fernández. Even on the leading European stock exchanges, including in Stockholm, it's all red.

» Updated: 05 August 2024, 10:11

» Published: 05 August 2024

Black day on the world's stock exchanges
Photo: Anders Humlebo/TT

In Japan, the trading week started strongly downward. The Nikkei 225 index plummeted over 12 percent. Hong Kong's Hang Seng index also fell, just like the stock market in South Korea.

It's likely that a combination of factors is shaking the world's stock markets, according to Américo Fernández.

Everything from quarterly reports from major companies coming in slightly worse than expected to economic trends that haven't recovered as quickly as desired. Another factor is the geopolitical turbulence in parts of the Middle East, which is causing risk appetite to decrease globally and affecting the stock market.

Red numbers

The global stock market anxiety started already at the end of last week after unexpectedly weak American job numbers.

The Stockholm stock exchange fell over 3 percent on Friday. The stock exchanges in London, Paris, and Frankfurt also closed the trading week in the red.

Monday doesn't look much better right now. The Stockholm stock exchange plummeted over 4 percent initially. The leading European stock exchanges are also falling.

The krona strengthens

Trading in the USA is also pointing to significant declines ahead of Monday's trading. The tech-heavy Nasdaq is expected to lose over 4 percent. The broad S&P 500 and Dow Jones industrial index are also pointing to minus.

The cryptocurrencies are also following the downturn. Bitcoin, the largest cryptocurrency, is falling and is now hovering around 52,700 dollars. This can be compared to over 58,500 dollars on Monday morning. A decline of over 10 percent. Ether is falling by as much as 15 percent.

The Swedish krona is strengthening slightly against the dollar on Monday morning and costs 10.56 kronor. One euro costs 11.57 kronor.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

No Nvidia boost on Wall Street
1 MIN READ

No Nvidia boost on Wall Street

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand

Nvidia rises in pre-trading on Wall Street
1 MIN READ

Nvidia rises in pre-trading on Wall Street

Court of Appeal Upholds Verdict: Northvolt Manager Acquitted
1 MIN READ

Court of Appeal Upholds Verdict: Northvolt Manager Acquitted

Northvolt: Negotiations are still ongoing
3 MIN READ

Northvolt: Negotiations are still ongoing

Higher Compensation for Job Interviews in Another Location
1 MIN READ

Higher Compensation for Job Interviews in Another Location

Vehicle Giant Warns of Challenges in 2025
1 MIN READ

Vehicle Giant Warns of Challenges in 2025

Unchanged interest rate in Turkey
1 MIN READ

Unchanged interest rate in Turkey

Trump anxiety in the EU over US tariffs
3 MIN READ

Trump anxiety in the EU over US tariffs

Weak demand for scrapping premium
1 MIN READ

Weak demand for scrapping premium

E-fuel company takes in half a billion
1 MIN READ

E-fuel company takes in half a billion

New Report Boost for AI Giant Nvidia's Share
2 MIN READ

New Report Boost for AI Giant Nvidia's Share

Still sour on the Stockholm Stock Exchange
2 MIN READ

Still sour on the Stockholm Stock Exchange

Bitcoin closer to the dream limit
1 MIN READ

Bitcoin closer to the dream limit

Higher fee to stop burning of plastic
2 MIN READ

Higher fee to stop burning of plastic

USA wants to force Google to sell Chrome
2 MIN READ

USA wants to force Google to sell Chrome

New method reveals pension fraud
3 MIN READ

New method reveals pension fraud

Most Minus Signs on Asian Stock Exchanges
1 MIN READ

Most Minus Signs on Asian Stock Exchanges

One of the world's richest bribed in the USA
2 MIN READ

One of the world's richest bribed in the USA

This is how Musk will save billions
2 MIN READ

This is how Musk will save billions