Stock markets around the world are falling sharply as a result of Israel and the US attack on Iran. At the close, the Stockholm Stock Exchange's OMXS index had fallen by 2 percent, making it one of the worst trading days of the year so far.
The decline is broad, with falls of 4.4 and 3.7 percent for two of the stock exchange's largest companies, SCA and H&M, respectively.
The defense group Saab, which usually performs strongly during escalations of military conflicts, fell 0.5 percent instead.
Clear decline
Although the decline was clear on the Stockholm Stock Exchange, the fall was not as severe as at the outbreak of the war in Ukraine. At that time, the Stockholm Stock Exchange plunged 4 percent at the open and then closed down 2.4 percent.
At the same time, the leading European stock exchanges - all of which ended in the red on Monday - fell significantly more in February 2022. In Norway, the Oslo Stock Exchange moved in the opposite direction, closing up 1.2 percent.
The price of oil is rising, and the price per barrel is now up about 7 percent to just over $78. Although this is the highest price since June 2025, there has been market speculation about even higher prices, with surges up to $100 per barrel.
Can turn quickly
The Wall Street Journal writes that among the explanations for the lack of a sharp rise in oil prices is a large market supply, while China, one of the largest buyers, currently has well-stocked depots. So far, no oil infrastructure in the region has been damaged in the attacks.
Today's fall means this year's gain on the Stockholm Stock Exchange has been trimmed to 4.5 percent. A comparison with the outbreak of the war in Ukraine shows, however, that a recovery can occur very quickly. About a month after the outbreak of the war, the Stockholm Stock Exchange was up 3 percent.
