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Fear of US tariffs – stock market collapse for Dustin

The Stockholm Stock Exchange opens down in line with leading European stock exchanges. The decline is broad and follows a new statement on tariffs from the US's incoming president Donald Trump. Dustin's share price collapses after a new profit warning.

» Updated: Today, 09:17

» Published: Today, 07:33

Fear of US tariffs – stock market collapse for Dustin
Photo: Joakim Ståhl/SvD/TT

The OMXS index has fallen by 0.8 percent after slightly more than ten minutes of trading.

Among the most traded stocks in the OMXS30 index, Nibe Industrier and Electrolux are falling by 3.5 and 2.0 percent, respectively. Truck giant AB Volvo is losing 1.7 percent.

However, the decline is broad since Donald Trump stated that he intends to introduce 25-percent tariffs on goods from Mexico and Canada and an additional penalty of 10 percent on goods from China.

The dollar – which has risen sharply during the autumn – climbed to slightly over 11.08 kronor during overnight trading. However, it fell back a few ören when the Swedish market opened, to a rate of 11.02 kronor per dollar.

Dustin's share is collapsing, down by 23 percent. The price drop follows the second profit warning in a short time from the online-based IT retailer. Dustin reports that it sees how sales during the first half of the current fiscal year may decline by 20 percent year-on-year and that the adjusted profit may be completely wiped out.

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By TTThis article has been altered and translated by Sweden Herald

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