As futures trading indicated, there is a clear decline on the Stockholm Stock Exchange. After initially being down 2 percent, there has been some recovery, and after half an hour of trading, the OMXS index is down around 1.5 percent.
It is reasonable that we will have a negative market reaction to everything that happened this weekend, with US threats of tariffs and countermeasures from the EU. With stock markets that are relatively highly valued and recent new highs, it is natural that there will be profit-taking, says Maria Landeborn, senior strategist at Danske Bank, to TT.
Among the companies falling the most is Investor, the Wallenberg sphere's investment company, down just over 3 percent.
Higher tariffs
Today's fall is mild compared with April last year, when Trump launched his broad tariff plan and the Stockholm Stock Exchange fell by around 3.5 percent.
There were higher tariffs on virtually all countries in the world, so it came as a shock to the market. Since then, many trade agreements have been concluded at lower levels and we know more about trade policy today than we did then, says Landeborn.
She also raises what has come to be known as "Taco", that is, "Trump Always Chickens Out", loosely translated as "Trump always chickens out". The term was coined after the market saw that Trump's tariff threats were more often than not withdrawn, for example when US interest rates rose.
If we start to see the same thing again - countries selling US bonds, interest rates going up and a broader stock market crash - then I think the market is counting on Trump to have a pain threshold. He has shown that time and again in the past year.
Take it easy
For small savers, the downturn may feel unnerving, but Jon Arnell, investment manager at Von Euler & Partners, pointed out the classic advice when TT spoke to him:
I think you have to try to be long term and stick to your savings plan, Arnell says.
