Market gravity - global wave
Photo: Claudio Bresciani/TT

Market gravity - global wave of AI anxiety

The OMXS index on the Stockholm Stock Exchange ended the last trading day of the week down 0.1 percent.

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The major banks weighed on the market. Swedbank fell 1.7 percent, while Handelsbanken and Nordea lost 1.5 percent.

The automotive industry also fell. Truck manufacturer AB Volvo and ball bearing manufacturer SKF fell 1.3 percent, while Sandvik lost 1.2 percent.

The worst performer among major companies was online casino company Evolution, down 2.4 percent.

Underwear manufacturer Björn Borg's stock went against the grain, up 4.3 percent after an accounting report.

The Stockholm Stock Exchange has been trading lower, following a wave of concern related to the risk of bubble valuations linked to AI - including among software manufacturers and in the transportation sector - spreading to stock exchanges around the world since Thursday.

However, in early trading on Friday, the three leading indexes on Wall Street turned upward after inflation figures for January were published, which showed that the annual rate of price increases had fallen more than expected.

In Europe, developments were mixed.

In this story
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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