Trump's tariffs sent the Stockholm Stock Exchange plummeting

The Stockholm stock exchange and other European stock exchanges went up and down in pace with Donald Trump's new tariff threats. Down was followed by up, but in the afternoon the prices slid down again and the broad OMXS index in Stockholm closed at minus 1 percent.

» Published: February 27 2025

Trump's tariffs sent the Stockholm Stock Exchange plummeting
Photo: Fredrik Sandberg/TT

In the afternoon Swedish time, USA's President Trump confirmed March 4 as the date for 25-percent import tariffs against Canada and Mexico.

For Chinese goods, an additional ten percent tariff will be added from the same date.

The new announcements came after Wednesday's announcement of 25 percent tariffs on goods from the EU, which initially caused the Stockholm Stock Exchange to fall.

A certain recovery occurred thereafter during Thursday's trading before it was time for gloom again.

Among the stocks that still rose, defensive companies stood out, those that usually withstand economic downturns better.

Pharmaceutical giant Astra Zeneca climbed 1.3 percent and telecom operators Telia and Tele2 rose 1.2 and 1 percent, respectively.

Among the losers, household appliance giant Electrolux and engineering company Atlas Copco were notable, dropping 2.7 and 2 percent, respectively.

A potential loser due to the tariffs is Volvo Cars, which fell 4.7 percent.

The krona weakened against the dollar to a rate of 10.74. One euro costs 11.18 kronor.

At the close in Stockholm, it was clearly gloomy on the stock exchanges in Paris and Frankfurt, while London was in the plus.

On Wall Street in New York, two out of three major indexes were in the plus.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Security Fund Reports Fewer Layoffs,
2 MIN READ

Security Fund Reports Fewer Layoffs, Sees Hope for Skilled Workers

Trump's Diversity Order Faces Pushback
1 MIN READ

Trump's Diversity Order Faces Pushback from European Companies

Sweden Seeks to Shield Key
2 MIN READ

Sweden Seeks to Shield Key Goods from EU-US Tariff Clash

Weekend Push for New Industrial
2 MIN READ

Weekend Push for New Industrial Agreement as Deadline Looms

Swedes Opt for Europe as
3 MIN READ

Swedes Opt for Europe as US Travel Bookings Drop 30 Percent

Energy Efficiency Boosts Villa Prices
1 MIN READ

Energy Efficiency Boosts Villa Prices in Sweden's Real Estate Market

Elon Musk's XAI Acquires Platform
1 MIN READ

Elon Musk's XAI Acquires Platform X in Major Tech Move

Inflation Concerns Drag Down Wall
1 MIN READ

Inflation Concerns Drag Down Wall Street Indices

Sweden Seeks New Investors for
1 MIN READ

Sweden Seeks New Investors for Bankrupt Northvolt Battery Firm

US Inflation Surprises with Higher
1 MIN READ

US Inflation Surprises with Higher Than Expected February Rate

Li Ka-Shing Halts Sale of
1 MIN READ

Li Ka-Shing Halts Sale of Panama Canal Ports Amid Beijing Pressure

Princess Madeleine Addresses Criticism Over
2 MIN READ

Princess Madeleine Addresses Criticism Over New Skincare Venture

Stockholm Stocks Slide 4.5 Percent
1 MIN READ

Stockholm Stocks Slide 4.5 Percent in a Week as US Inflation Hits

French Inflation Dips Below Expectations,
1 MIN READ

French Inflation Dips Below Expectations, Impacting ECB Decisions

Cautious Consumer Spending Sees Slight
1 MIN READ

Cautious Consumer Spending Sees Slight Uptick in Sweden's Retail Sales

SSAB Faces Financial Supervisory Authority
1 MIN READ

SSAB Faces Financial Supervisory Authority Probe Over Reporting Rules

79,000 Swedes Face Student Debt
1 MIN READ

79,000 Swedes Face Student Debt with Enforcement Authority in 2024

Royal Expert Questions Princess Madeleine's
3 MIN READ

Royal Expert Questions Princess Madeleine's Skincare Venture

Gold Prices Reach New Heights
1 MIN READ

Gold Prices Reach New Heights as Trade Tariff Concerns Grow

Asian Markets Tumble as Investors
1 MIN READ

Asian Markets Tumble as Investors Brace for New US Tariffs

Trump's Tariff Plan Could Drive
2 MIN READ

Trump's Tariff Plan Could Drive Up Car Costs, Impact US Market

Ubisoft and Tencent Invest $1.25
1 MIN READ

Ubisoft and Tencent Invest $1.25 Billion in New Gaming Subsidiary

Sweden to Build Major Carbon
2 MIN READ

Sweden to Build Major Carbon Capture Facility in Stockholm by 2028

Wall Street Dips as US
2 MIN READ

Wall Street Dips as US Car Giants Slide on New Tariff Announcement

Vattenfall Prepares Autumn Application as
2 MIN READ

Vattenfall Prepares Autumn Application as Sweden Backs Nuclear Expansion

US Car Tariffs Threaten Swedish
2 MIN READ

US Car Tariffs Threaten Swedish Auto Industry, Warns Dousa

Nordic Nations Unite to Tackle
1 MIN READ

Nordic Nations Unite to Tackle Unsafe Products from Temu and Shein

Volvo Recalls 73,000 Hybrids Over
1 MIN READ

Volvo Recalls 73,000 Hybrids Over Fire Risk in Battery Charging

Four Charged in Nasdaq Stockholm
2 MIN READ

Four Charged in Nasdaq Stockholm Insider Trading Scandal

European Car Stocks Drop After
1 MIN READ

European Car Stocks Drop After US Tariff Announcement

Trump Warns EU and Canada
1 MIN READ

Trump Warns EU and Canada of Higher Tariffs Over Economic Moves

Sweden's FI Pushes for Clearer
1 MIN READ

Sweden's FI Pushes for Clearer Mortgage Rate Discount Notices

Trump's Trade Tariffs Add Pressure
2 MIN READ

Trump's Trade Tariffs Add Pressure to H&M's Struggling Sales

US Implements 25% Car Tariffs
2 MIN READ

US Implements 25% Car Tariffs to Boost Domestic Production

Sweden to Cut Ties with
3 MIN READ

Sweden to Cut Ties with Underperforming Job Placement Firms

US Tariffs Trigger Global Stock
1 MIN READ

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

SBAB Increases Fixed-Rate Mortgage Interest
1 MIN READ

SBAB Increases Fixed-Rate Mortgage Interest by 0.10 Points

Second-Hand Market Sees Over 40
1 MIN READ

Second-Hand Market Sees Over 40 Percent Drop in February

Tokyo Stocks Dip as US
1 MIN READ

Tokyo Stocks Dip as US Tariff Threats Shake Asian Markets

Japanese Car Stocks Tumble After
1 MIN READ

Japanese Car Stocks Tumble After Trump's Tariff Announcement