Stockholm Stock Exchange Drops After Trump's Tariff Announcement

The Stockholm Stock Exchange fell back on Thursday after a new tariff move by US President Donald Trump. The broad OMXS-index fell 0.9 percent.

» Published:

Stockholm Stock Exchange Drops After Trump's Tariff Announcement
Photo: Claudio Bresciani/TT

Share this article

Most of the companies in OMXS30, the index of the most traded shares, closed on a minus. Worst off was the housing company SBB, down 5.2 percent, and the investment company Kinnevik, which lost 3.5 percent.

Going against the trend were among others the large bank SEB, the pharmaceutical company Astra Zeneca and the telecommunications company Tele2, which all rose 0.5 percent.

During the night before Thursday, Donald Trump threatened to send completed customs agreements to several trading partners within two weeks – several weeks before the announced customs pause expires on July 9.

The Clas Ohlson chain reported a balance sheet showing a profit margin better than market expectations. The stock surged almost 17 percent

On the foreign exchange market, the krona strengthened against both the dollar and the euro. A dollar cost 9.44 kronor at market close and a euro 10.93 kronor.

On the leading European stock exchanges, the development was mixed. The index movements were relatively small with an increase in London, a decline in Frankfurt and an almost unchanged index in Paris.

Tags

Author

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

More news

US Inflation Matches August Expectations

US Inflation Matches August Expectations

ECB Keeps Interest Rates Steady

ECB Keeps Interest Rates Steady

Novo Nordisk to End Remote Work in 2024

Novo Nordisk to End Remote Work in 2024

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Klarna's Stock Market Debut Attracts Swedish Small Investors

Klarna's Stock Market Debut Attracts Swedish Small Investors

Oil Demand Surpasses Expectations for 2026, Says IEA

Oil Demand Surpasses Expectations for 2026, Says IEA

Stock Market Shows Weak Downward Trend as Rusta Reports Poor Earnings

Stock Market Shows Weak Downward Trend as Rusta Reports Poor Earnings

Swedish Dockworkers' Union and Employers Reach Agreement Ending Dispute

Swedish Dockworkers' Union and Employers Reach Agreement Ending Dispute

Technology Industry Faces Weak Growth, Says Teknikföretagen Report

Technology Industry Faces Weak Growth, Says Teknikföretagen Report

Food Prices Drop for First Time This Year in Sweden

Food Prices Drop for First Time This Year in Sweden

Noba to Join Stockholm Stock Exchange with Existing Shares

Noba to Join Stockholm Stock Exchange with Existing Shares

Rusta Reports Decreased Profit Despite Increased Sales

Rusta Reports Decreased Profit Despite Increased Sales

Sweden's Labor Market Faces Slow Recovery Despite Job Gains

Sweden's Labor Market Faces Slow Recovery Despite Job Gains

Nikkei 225 Hits New Record Amid Wall Street Optimism

Nikkei 225 Hits New Record Amid Wall Street Optimism

Klarna's NYSE Listing Boosts Growth and Talent Attraction

Klarna's NYSE Listing Boosts Growth and Talent Attraction

Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing

Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing

Klarna's Stock Surges 30% in Initial New York Trading

Klarna's Stock Surges 30% in Initial New York Trading

Klarna CEO Outlines Strategy to Dominate Global Payment Market

Klarna CEO Outlines Strategy to Dominate Global Payment Market

SEC Challenges Global Sustainability Reporting Standards

SEC Challenges Global Sustainability Reporting Standards

Spotify Introduces High-Resolution Sound for Premium Users

Spotify Introduces High-Resolution Sound for Premium Users