The OMXS index had fallen 0.9 percent at the close. At the same time, it was clearly pointing downwards on the leading European stock exchanges in Frankfurt, London, and Paris, while Wall Street in New York had crawled back above zero after a gloomy opening.
But the customs duty anxiety is visible in the form of a dollar depreciation, falling American long-term interest rates, a higher gold price, and upward pressure on the Japanese yen – which is considered one of the safer currencies in the current turmoil.
A dollar costs 9.91 kronor. This is the lowest rate since the dollar's bottom in late 2023 and can be compared to levels around 11.25-11.30 kronor in the days leading up to Donald Trump's inauguration in January.
Broad decline
The decline in Stockholm was given extra weight by the fact that the shares in major bank SEB and bearing manufacturer SKF were traded without dividend rights and fell 7.5 and 3.9 percent, respectively.
But it was a broad decline, with only seven of the most traded shares on the OMXS30 list in the plus. Heat pump manufacturer Nibe remained at plus 1.6 percent and white goods giant Electrolux rose 0.8 percent.
Defense group Saab lost 4.1 percent and Getinge 2.3 percent.
Online retailer Dustin reported a loss of 2.5 billion for the period December-February after a large goodwill write-down, and the board has decided on a guaranteed new issue of 1.25 billion. The share fell 11 percent.
Car manufacturer Volvo Cars rose 2.2 percent despite a report showing that the number of cars sold fell 10 percent in March.
Ventilation company Systemair went up 0.4 percent after the announcement that CEO Roland Kasper is leaving his position after ten years on the post.
"Liberation day" tariffs
Wednesday has been dubbed "Liberation day" by Donald Trump. He has flagged comprehensive tariffs against all countries that have, in his view, trade barriers against the US – on top of the tariffs already introduced and announced since Trump's inauguration in January.
The new tariffs will be presented at the White House at 22:00 Swedish time this evening, and according to the Trump administration, they will come into effect immediately.
With Wednesday's decline, the Stockholm stock exchange is down 1 percent since the turn of the year.
