US Tariffs Trigger Global Stock Market Dip; Volvo and Banks Hit Hard

The Stockholm stock exchange followed the trend around the world and fell on Thursday. The broad OMXS index dropped 1.1 percent during a day marked by the US announcement of import tariffs.

» Published: March 27 2025

US Tariffs Trigger Global Stock Market Dip; Volvo and Banks Hit Hard
Photo: Fredrik Sandberg/TT

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On the OMXS30 list of the most traded shares, defence group Saab and hygiene company Essity went against the trend and rose 1.6 and 1.2 per cent, respectively.

Clothing company H&M fell 0.3 per cent after an interim report in the morning that missed targets, but recovered and closed plus 0.4 per cent.

Volvo Cars fell on the news from the USA about car tariffs from the beginning of April. Moreover, a larger number of hybrid cars will be recalled, and the share fell 7.6 per cent.

Handelsbanken and Swedbank, which were traded without the right to dividend, fell more sharply among the major companies – 12.5 and 8.1 per cent, respectively.

Leading stock exchanges in Europe had also fallen at the close in Stockholm. In Frankfurt, car giants Porsche, Mercedes-Benz, and Volkswagen were traded on minus.

In Asia, Japanese car companies have also plummeted after President Donald Trump's tariff announcement.

On Wall Street in New York, all three major indices danced around zero.

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

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