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

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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.

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

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