Stockholm Stock Exchange Drops 1.5 Percent as Market Sentiment Sours

The Stockholm Stock Exchange started the day slightly optimistic on Wednesday, but the market soured significantly and the broad OMXS index closed at minus 1.5 percent.

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Stockholm Stock Exchange Drops 1.5 Percent as Market Sentiment Sours
Photo: Fredrik Sandberg/TT

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In the morning, a new indicator from the National Institute of Economic Research showed that Swedish households have become more pessimistic about the economy.

All companies except two on the OMXS30 list with the most traded shares fell.

Teleoperators Tele2 and Telia – both defensive shares, i.e. those that usually perform well in times of stock market uncertainty – rose 0.2 percent.

Swedbank and online casino company Evolution led the decline with a minus 2.9 percent. Heat pump manufacturer Nibe fell 2.7 percent.

Even on the major European stock exchanges, the mood was largely gloomy. At the close in Stockholm, Frankfurt and Paris had fallen, while London was up.

Even on Wall Street, the figures were red. All three major indices in New York were down.

Uncertainty surrounding President Donald Trump's tariff policy and Tuesday's figures showing that US consumers have weak confidence in the economy are dragging down the stock market.

The krona remained relatively stable against the dollar and euro. One dollar now costs 10.03 kronor and one euro 10.82.

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

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