The Chinese AI company Deepseek and its new AI model shook the American stock exchange severely yesterday. AI rocket Nvidia lost nearly 17 percent on Monday – a new record when it comes to stock market crashes on Wall Street.
The crash was also felt by many Swedish small investors. At Nordnet, several of the most popular funds have a larger holding of shares from American tech companies, not least Nvidia.
Large exposure to the USA
Some examples are Länsförsäkringar Global Index (5.5 percent), Nordnet Teknologi Index (18 percent), and Swedbank Robur Technology (6.2 percent), all of which fell as a result of the fall in the USA.
You have a very large exposure in fund savings to a relatively small number of companies, and maybe not everyone is aware of it, says Frida Bratt, savings economist at Nordnet.
For the Seventh AP Fund, which manages the premium pension for millions of Swedes, Nvidia's crash meant a decline of nine billion kronor. At the same time, they point out that the stock market development has gone straight up in the past year.
Frida Bratt also notes that tech funds, but also global funds, generated high returns for savers last year.
The American stock exchange has gone incredibly well in recent years. But it's important as a fund saver that you don't just own a global fund, but that you complement it with something else. This becomes a reminder of that, she says.
"Common pattern"
However, Swedish small investors do not seem to have been completely discouraged by the blood-red numbers on the stock exchange. At Nordnet, they saw how many simultaneously took the opportunity to buy shares, not least from Nvidia.
It was clearly the most net-bought on the entire platform. And it's a pretty common pattern. You try to buy what has gone down to get it a bit cheaper, and we could also see it on the Stockholm Stock Exchange and among industrial companies that are a bit more AI-related.
The same trend was clear even at Avanza:
"Yesterday's activity in Nvidia was extremely high. Only on one occasion during the past year have more customers traded in the share during one and the same day", says Philip Scholtzé, savings economist at Avanza, in a written comment.
