SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Broad decline on the stock exchange after tariff drama

As expected, the Stockholm Stock Exchange fell on Monday after the American President Donald Trump's statement about punitive tariffs. The index recovered somewhat after a sharp decline in the morning.

» Published: February 03 2025

Broad decline on the stock exchange after tariff drama
Photo: Jakob Åkersten Brodén/TT

Many courses rose in late trading since it became clear that the introduction of the US's new tariffs against Mexico would be paused for a month. The broad OMXS-index closed at minus 1.3 percent. The OMXS30-index – with the stock exchange's most traded shares – fell 1.4 percent.

Only two companies in the OMXS30 rose: the defense group Saab, up 1.2 percent, and truck manufacturer Volvo, plus 0.3 percent. Generally, companies with a defensive profile fared best, i.e. shares that usually attract investors in uncertain times.

The worst performer in the OMXS30 was household appliance manufacturer Electrolux, which fell 3.6 percent. Cloud service company Sinch and bearing giant SKF also had a bad day, down 3.4 and 3.2 percent, respectively.

Outside the large-cap list, a sharp price fall was noted for Volvo Cars. The car manufacturer lost 4.6 percent.

The move by Trump strengthened the US dollar against the Swedish krona. One dollar cost 11.12 kronor at the close of the exchange.

Leading European stock exchanges followed the same path as the Stockholm Stock Exchange. Indices in Frankfurt, London, and Paris fell between 1 and 1.5 percent.

Tags

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

More news

Food prices are rising: "The government must wake up"
2 MIN READ

Food prices are rising: "The government must wake up"

Soon, no more parental allowance on weekends
1 MIN READ

Soon, no more parental allowance on weekends

Klarna's CEO: "I give up – embracing crypto"
1 MIN READ

Klarna's CEO: "I give up – embracing crypto"

Companies stick to climate goals – despite Trump
3 MIN READ

Companies stick to climate goals – despite Trump

Stockpiling Prosecco Ahead of Trump's Tariff Threat
1 MIN READ

Stockpiling Prosecco Ahead of Trump's Tariff Threat

Russia introduces trade barriers against China
1 MIN READ

Russia introduces trade barriers against China

Domestic Flights Decrease – Sweden Stands Out in the EU
4 MIN READ

Domestic Flights Decrease – Sweden Stands Out in the EU

This is why Donald Trump loves tariffs
3 MIN READ

This is why Donald Trump loves tariffs

The Baltic States have been disconnected from the Russian power grid
1 MIN READ

The Baltic States have been disconnected from the Russian power grid

Economist: Don't Count on Lower Mortgage Interest Rates
2 MIN READ

Economist: Don't Count on Lower Mortgage Interest Rates

Tesla loses out to tough Chinese competition
1 MIN READ

Tesla loses out to tough Chinese competition

Fear of tariffs and prices sank Wall Street
2 MIN READ

Fear of tariffs and prices sank Wall Street

Klarna aims to list on the US stock exchange in April
1 MIN READ

Klarna aims to list on the US stock exchange in April

More exchange USA-Japan - but also threat of tariffs
1 MIN READ

More exchange USA-Japan - but also threat of tariffs

Payment problems at the State Liquor Store
1 MIN READ

Payment problems at the State Liquor Store

Fewer new jobs in the USA than expected
1 MIN READ

Fewer new jobs in the USA than expected

Worse economic development expected for Russia
1 MIN READ

Worse economic development expected for Russia

Bound Mortgage Rates on the Way Up
2 MIN READ

Bound Mortgage Rates on the Way Up

The Stockholm Stock Exchange closed the week with a decline
2 MIN READ

The Stockholm Stock Exchange closed the week with a decline

Trade from Shein and Temu Slows Down
1 MIN READ

Trade from Shein and Temu Slows Down