Stockholm Stock Exchange Falls 0.5 Percent Amid Broad Decline

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Stockholm Stock Exchange Falls 0.5 Percent Amid Broad Decline
Photo: Claudio Bresciani/TT

The Stockholm stock exchange was pushed down on Wednesday. At the close, the OMXS index fell by 0.5 percent. It points both upwards and downwards after a few hours of trading on Wall Street.

The stock market decline in Stockholm was broad and deeper than on leading European markets.

Air heat pump manufacturer Nibe fell 2.8 percent, property company SBB declined 2.0 percent, while white goods giant Electrolux landed at minus 1.9 percent.

At the other end, among others, cloud service company Sinch was found, up 5.6 percent, and defense conglomerate Saab, which increased 1.8 percent.

The market is selling off American assets – since IMF chief economist Gita Gopinath warned of the US deficit and debt burden, which on Friday led the rating institute Moody's to lower the US credit rating.

Uncertainty surrounding the support for the Trump administration's economic policy in Congress among Republicans contributes.

A dollar now costs 9.56 kronor, one of the lowest rates in over three years. The rate can be compared to rates around 11.25 kronor in the days before Donald Trump's inauguration as US President on January 20.

A euro costs 10.84 kronor.

Wall Street closed on minus on Tuesday, but after a few hours on Wednesday, the indexes are trading both below and above zero.

The Stockholm stock exchange rose 0.4 percent on Tuesday.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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