The week begins with red numbers on the Stockholm Stock Exchange. A few minutes after opening, the broad OMXS index had fallen by 4.8 percent. The large company index OMXS30 has also fallen by over four percent.
– Unfortunately, it’s classic herd behavior and then it’s the households that are last on the ball. Then there is a risk that you sell at the bottom and have to buy in when all the headlines are positive again, as it is likely to be at the top, says SEB’s private economist Américo Fernández to TT.
Global race
On the leading European stock exchanges, the light is also red. The London stock exchange retreats 1.3 percent, while Frankfurt loses over 2 percent.
Asia’s stock markets fell widely overnight and the Tokyo stock exchange closed at almost minus 12.5 percent.
On Friday, the Stockholm Stock Exchange fell by just over three percent after concerns over weak job figures from the US.