It was another day with violent movements on the world's stock exchanges after the USA raised import tariffs against China to 104 percent. The world's second-largest economy responded with 84-percent tariffs on American goods, and the EU's member states almost unanimously agreed to introduce new US tariffs.
The Stockholm stock exchange was pushed down to the basement, at most around 4.5 percent. At closing, the OMXS had fallen around 12 percent since the USA's President Donald Trump released the tariff bomb against the whole world a week ago.
Almost all heavyweight shares fell. Among the really big losers were Astra Zeneca, minus 6.8 percent, after Trump announced new pharmaceutical tariffs. The appliance giant Electrolux fell even harder, down 8.8 percent.
The exception was the investment company Kinnevik, which rose 1.6 percent.
In parallel, the American market interest rates rose sharply. At the same time, the European interest rates fell, at least those with shorter maturities.
Now, among others, Handelsbanken's economists predict many more interest rate cuts from the Swedish Central Bank.
