The Stockholm Stock Exchange and other world stock exchanges have fallen sharply over the past two days. In Stockholm, the decline has been nearly 5 percent. Pre-market indications suggest the fall will be less steep when trading opens on Wednesday morning.
Yesterday, US stock markets closed about 1 percent lower, and futures trading indicates continued declines this afternoon. In Asia, declines have been larger. The Tokyo stock market is down 3.5 percent this morning local time in Sweden. In South Korea, the decline is 10 percent.
The rise in oil prices has halted, partly because the US promised military protection for tankers passing through the Strait of Hormuz. A barrel of North Sea crude costs $83 this morning.
