Stock markets fall as global interest rate fears and rising oil prices hit risk appetite

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Stock markets fall as global interest rate fears and rising oil prices hit risk appetite
Photo: Claudio Bresciani/TT

Among the Stockholm blue chips, the Wallenberg Sphere's venture capital company EQT fell 2.0 percent, and the heat pump group Nibe Industrier fell 1.5 percent.

The global rise in interest rates is being driven by developments in the United States, where the yield on ten-year government bonds has risen above 5 percent to its highest level since 2007 ahead of Wednesday's interest rate announcement from the US Federal Reserve (Fed).

The development is pushing down the krona and driving up Swedish long-term interest rates. One euro costs 11.29 kronor, and one dollar 9.79 kronor, while the yield on a ten-year Swedish government bond has risen to 3.23 percent.

Prior to that, the OMXS index had fallen 1.0 percent on Monday and has risen 6.0 percent since the turn of the year.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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