Stockholm Stock Exchange Drops Sharply Amid Global Market Concerns

The mines were sour on the Stockholm stock exchange on Thursday. At closing, the OMXS index by 2.2 percent.

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Stockholm Stock Exchange Drops Sharply Amid Global Market Concerns
Photo: Johan Hallnäs/TT

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Today's decline follows a sharp fall on the New York Stock Exchange last night. During the day, it has also become clear that US President Donald Trump's budget proposal is now passing the first instance and will be taken further to the Senate.

From a market perspective, there are fears that this will drive up the country's deficit, and the yield on 30-year government bonds has now reached a level last seen in October 2023.

Among individual companies on the Stockholm Stock Exchange, a sharp fall was noted for game developer Embracer after the morning's interim report. The company plummeted 17 percent. Forest giant Stora Enso went in the opposite direction and rose 1.0 percent on the news that the company is selling parts of its forest assets.

Among OMXS30 companies, all shares – except for defense conglomerate Saab, up 0.3 – were in the red, with interest-rate-sensitive cloud service company Sinch taking the biggest hit and falling 5.4 percent.

The development on the leading stock exchanges was in line with Stockholm, albeit with a milder decline.

A dollar costs 9.62 kronor and a euro 10.86 kronor.

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

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