All of the Stockholm Stock Exchange’s major companies lost heavily on Monday morning. During the day, the figures recovered somewhat, but at the close the OMXS30, the index for the 30 most traded companies, had lost a total of 2.26 percent. The broad index for the entire Stockholm Stock Exchange showed a fall of 2.57 at the end of the banking day.
Equity savers in Sweden can expect more red numbers going forward, according to Shoka Åhrman, savings economist at SPP.
– The coming days may look similar, says Åhrman.
The leading European stock exchanges in London and Paris also lost and closed at approximately minus 2 percent.
Plunge on the Tokyo Stock Exchange
The morning began with a big loss on the stock markets in Asia. Tokyo’s Nikkei index had fallen 12.4 percent at the close, which is the biggest fall since the so-called “Black Monday” in 1987 when the Nikkei fell 14.9 percent.
According to experts, it is a combination of factors that have touched the world’s stock markets. In Asia and on the Tokyo Stock Exchange, it is, among other things, about an interest rate increase last week, when the policy rate went up to 0.25 percent, according to Robert Bergqvist, senior economist at SEB.
– I think it is a factor that has made the market nervous, he says in SVT’s live broadcast on Monday morning.
A negative development on the American labor market, the geopolitical situation in the Middle East and uncertainties surrounding the value of American tech companies have also contributed to Monday’s stock market crash, according to Robert Bergqvist.
Case for Tesla and crypto
The New York Stock Exchange plummeted at the opening, and at times the Nasdaq nosedived at around minus 6 percent. During the day, the indices recovered somewhat, but nevertheless closed well below zero.
Industry-heavy Dow Jones ended the trading day down 2.6 percent, while the broader S&P 500 closed down 3.0 percent. According to CNBC, Monday was the worst trading day for the two indexes since 2022. At the same time, Nasdaq’s composite index retreated by 3.4 percent.
Among the majors, semiconductor giant Nvidia fell more than 9 percent at the opening. Electric car giant Tesla lost over 7 percent and Apple over 5 percent.
Cryptocurrencies also lost value on Monday. The largest cryptocurrency, Bitcoin, is now at around $50,000, which represents a decline of about 15 percent. The second biggest cryptocurrency to lose Ether fell on Monday by almost 19 percent.
Here can you watch SVT’s entire broadcast about the big stock market crash.
